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NEWS8 August 2019

Nike acquires data science company

AI Data analytics M&A News North America Retail Technology

US – Nike has acquired Boston-based predictive analytics company firm Celect.

Founded in 2013, Celect’s cloud-based analytics platform uses machine learning to predict how customers will choose products online or in store, helping retailers optimise their inventory.

The acquisition will help Nike anticipate what its customers want to buy. It is part of a strategy the company announced two years ago to improve how it serves consumers on a global scale by increasing its digital abilities. 

The financial terms were not disclosed.

As part of the acquisition, Celect’s staff will join Nike’s global operations team. Its co-founders will retain their positions as tenured professors at the Massachusetts Institute of Technology and will consult Nike on an ongoing basis.

Eric Sprunk, chief operating officer at Nike, said: “As demand for our product grows, we must be insight-driven, data optimised and hyper-focused on consumer behaviour. This is how we serve consumers more personally at scale.”

@RESEARCH LIVE

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