Google has made a $125 million cash payment to acquire search engine optimization (SEO) firm Channel Intelligence, Inc. Majority stakeholder ICG Group will receive $60.5 million for its holdings in the company.
The deal is expected to be finalized before the end of Q1 2013.
Channel Intelligence has developed proprietary software that allows its clients to rank higher in Google, Bing and other search engine results pages. The company says it has “developed a technology to help merchants maximize sales and return on ad spend with Product Listing Ads, which has become an increasingly important channel for merchants.”
When Channel Intelligence first launched, it was immediately named as a Google Shopping partner because of its strong tech infrastructure.
On its official blog, Channel Intelligence revealed the acquisition and wrote that the company has been working with Google for many years and “look forward to the great things we will be able to do together.”
Following the announcement, Google added that through the acquisition “we want to help consumers save time and money by improving the online shopping experience. We think Channel Intelligence will help create a better shopping experience for users and help merchants increase sales across the web.”
Here is the full blog post from the Channel Intelligence team:
“We are pleased to announce that Channel Intelligence (CI) has entered into an agreement to be acquired by Google!
“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.
“All CI services will continue to offer the excellent client service and great performance that our clients have come to expect over the years.
“The CI Team”
Do you think Google made the right decision in the purchase of Channel Intelligence?