Kenshoo has acquired Signals Analytics, a company powered by artificial intelligence, to expand its data and analytics capabilities.
In the process it will create a new business unit that helps to resolve one of the biggest challenge brands are facing during the COVID-19 pandemic and in the post-pandemic era.
The challenge, accelerated in 2020 by the pandemic, highlights the need to catch up with ecommerce adoption and become better positioned to understand, engage and transact with consumers, regardless of the channel.
“We realize a few tectonic industry shifts have accelerated,” said Gil Sadeh, Signals Analytics co-founder and chief executive officer. “Online was really the only way for brands to interact and engage with consumers during the past year. Bringing the two companies together realigns the challenge we’re trying to address.”
Sadeh, who co-founded Signals Analytics with Kobi Gershoni, will join Kenshoo as chief growth officer of the combined company. Gershoni also will join the company, leading the data partnerships and alliances.
With the acquisition of Signals Analytics, known for its AI-driven analytics, Kenshoo will create a business unit, Market Intelligence. When asked if Signals Analytics will keep its brand name, Sadeh said those details are being worked out.
The acquisition includes Signals Analytics’ three approved patents, along with other technology resources. Most of the 80 employees will join Kenshoo.
The companies will combine their data to create a joint knowledge graph, from data classification and build new analytical models. The applications from each company initially will be sold separately, but during the next 12 months the plan is to “enrich” each with data from the combined companies, as well as develop new products.
“There’s an overlap in customers between the two companies, which makes the transition smooth,” Sadeh said. “Some are actively involved in designing and shaping the vision of the newly combined company.”
The two have created a board with “some of the biggest brands” to help drive the future of Kenshoo.
Kate DuBois, the general manager of search for Kenshoo, will become the general manager of Market Intelligence. Paul Vallez, general manager of partnerships at Kenshoo, will take DuBois’ role as general manager of search.
“There’s tremendous opportunity in the market with the quickly-changing trends we see,” she said.
About 70 employees will support the newly-formed business unit, about 60 from the Signals Analytics.