Lowe’s acquires Boomerang Commerce retail analytics tech
Lowe’s will integrate the platform’s technology into its retail business as it looks to digitise its approach to pricing and merchandising.
In addition to the technology and tools for the platform, some staff from Boomerang’s retail analytics teams in Bangalore and the US will join Lowe’s.
Seemantini Godbole, chief information officer at Lowe's, said: “Pricing and assortment planning have been identified as strategic areas in need of modernisation. Adding this team and technology to our existing capabilities helps us leverage the right data quickly, effectively and successfully."
Following the transaction, Boomerang’s Commerce IQ service will operate as an independent business under the CommerceIQ.ai brand.
The value of the deal was not disclosed.
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