Content personalization provider Movable Ink is acquiring Coherent Path, a firm that helps retailers personalize their email programs, Movable Ink announced Wednesday afternoon. Terms were not disclosed.
Movable Ink will have over 500 employees globally when Coherent Path’s 50 staffers are added.
The combination of Coherent Path’s tools and Movable Ink’s data and cross-channel personalization capabilities will help Movable Ink provide “a game-changing AI technology,” says Vivek Sharma, CEO and co-founder of Movable Ink.
Sharma adds that Coherent Path's approach focuses on discovery.
“Customers are guided to their next favorite products, categories, and content, through AI that organically shapes content to fit each customer's evolving tastes and guides them to new areas across the product catalog,” Sharma says.
One joint client of both firms is retailer Bloomingdales.
"With Coherent Path's AI and Movable Ink's ability to automate the creation of millions of variations of personalized content, this union is a win-win for Bloomingdale's,” says Sean Duffy, vice president, contact strategy & search for Bloomingdale's.
Sharma argues that the industry needs such a combination.
“Personalization has become the new strategic imperative,” he says. “Despite unprecedented access to data, marketers have not been able to understand recent behaviors and quickly shift their marketing to changing customer tastes.
Canaccord Genuity LLC served as financial advisor to Coherent Path. and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C. as legal advisor. Cooley LLP was legal advisor to Movable Ink.