Omniture acquires Mercado's site search and merchandising business
Business optimization software provider Omniture has acquired Mercado's site search and merchandising business for $6.5 million and the assumption of certain liabilities.
The deal will enable Orem, UT-based Omniture to expand its site search and merchandizing solutions, especially in the retail space. Omniture had already been integrating some of Mercado's software into SiteCatalyst, a feature service of Omniture Genesis, which gives online businesses improved conversions by increasing the relevance of search results based on analytics such as product popularity, affinity and revenue.
Omniture executives were not available for comment on the implications of the acquisition. Omniture CEO Josh James said in a statement, "Omniture is the top supplier of Web analytics to the retail industry and this acquisition extends our leadership further into merchandising. The macro environment has created a great opportunity for us to acquire assets that we have been interested in for some time at a great value for our stockholders."
The acquisition is expected to be completed by year's end, pending the approval of shareholders as well as government officials in Israel, where Mercado is based.