Google to buy e-commerce firm Channel Intelligence for $125 mln

Google yesterday agreed to buy US e-commerce firm Channel Intelligence from ICG Group for $125 million as part of it's latest efforts to strengthen its e-commerce business.

Florida-based Channel Intelligence provides technology to other companies to drive product sales online.

Channel Intelligence, which is is owned by ICG and Aweida Capital Management, has been working with over 850 retailers worldwide and generates $2 billion in sales online annually in computing, home improvement, appliances, consumer electronics, toys and other goods.

It helps marketers outperform online with its Boost services, Facebook Platform, Where-to-Buy, Product Search Engines and Shopping Engine solutions.

Relied upon by companies such as Target, Philips, HP, Neiman Marcus, Best Buy and Kimberly-Clark, Channel Intelligence tracks nearly 15 per cent of US transactions online.

"For over ten years, we have focused on making it easy for consumers to find and buy products online and help our clients grow their business. We've worked with Google for years, and look forward to the great things we will be able to do together," Channel Intelligence said in a blog posted on its website.