Dive Summary:
- Google has agreed to purchase Channel Intelligence for a reported $125 million in order to expand its role in the retail space; through its marketing services, Channel Intelligence propels sales for major retailers such as Best Buy and Target.
- The ICG Group, which owns Channel Intelligence, is expected to see $60.5 million from the transaction with the rest of the funds held in escrow towards incidentals.
- ICG is attributing the acquisition to a highly successful year led by Channel Intelligence's founder, Rob Wight.
From the article:
"...Search giant Google has agreed to buy Channel Intelligence for $125 million, allowing to expand its role in the retail space..."
