Google has acquired UK retail forecasting start-up Rangespan for an undisclosed amount.
The British company, founded by two former Amazon executives, uses real-time sales data to help retailers decide which products to sell and when. The move comes as Google aims to bolster its ecommerce and web portal business, reported the BBC.
Rangespan said on its website: “We are very happy to announce that Rangespan is joining Google. We will continue to work on services for shoppers and retailers at Google, and we’re super excited about the opportunities to come.”
Rangespan, which was backed by Octopus Investments, was founded in 2011 by Amazon executives Matt Henderson and Ryan Regan. It is the third UK start-up to be acquired by Google this year, after London-based artificial intelligence specialist DeepMind and ad fraud detection start-up Spider.io. The terms of the Rangespan deal have not been made public.
Rangespan has previously helped clients such as Tesco and Asda. Google will absorb the firm and its technology and Rangespan will no longer sell services to clients.