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RichRelevance, a company that delivers personalized product recommendations for online customers and retailers, announced earlier today that it has acquired Avail, Europe’s largest provider of online merchandising platforms.
That means that customers of many popular international online retailers may soon begin noticing increased relevance in offered recommendations and more tailored virtual storefronts based on their shopping preferences and habits.
RichRelevance helps retailers increase sales and customer engagement by recommending the most relevant products to customers. It delivers over one billion product recommendations daily and the company boasts a client base that includes Walmart, Sears, and Target.
The San Francisco-based company’s strategic acquisition gives it an immediate presence in several new countries, including India and Australia, while also increasing its client base by over 80 companies. Argos, La Redoute, and Halens are among the companies joining RichRelevance’s client roster through this transaction. It now has customers in 29 countries.
“The combination of RichRelevance and Avail brings tremendous value to our clients in the EU and around the world,” said David Selinger, chief executive of RichRelevance, in a statement.
“Global retail is undergoing a sea of change, and there has never been a more exciting or interesting time to be in the retail sector. Tremendous shifts in consumer behavior have put pressure on retailers to adopt new high-impact strategies driven by technology, data and measurement. This acquisition rounds out our ability to support the complete topography of our retail partners’ needs in the EU and across the globe,” he said.
The combined company ranks first for personalization in both the Internet Retailer 500 and Internet Retailer EU250.
According to the company’s press release, it is planning on keeping key Avail executives and talent throughout the company, from engineering to finance. Avail’s chief executive Pontus Kristiansson will continue to guide strategy and oversee daily operations of his company.
Scope Capital and Headwaters MB acted as financial advisors to Avail during this transaction. The acquisition price was not disclosed.
Image credit: RichRelevance
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