Dallas-based Kibo, a leader in cloud commerce, today announced it has entered into an agreement to acquire leading testing and optimization provider, Monetate.
Monetate has a large office on East Hector Street in Conshohocken, which served as the company’s headquarters until 2017. There are approximately 100 employees in Conshy and according to an article in the Philadelphia Business Journal, the office will remain open.
“Providing a personalized customer journey is vital to brands and retailers in today’s competitive marketplace,” said David Post, CEO of Kibo. “Consequently, we’re going to heavily invest in personalization as part of our commerce cloud to outpace our competitors in providing both innovation and a holistic suite of solutions. With Monetate, we recognized the opportunity to acquire a market leader in discovery, segmentation, testing, measurement, and optimization. Through the combination of Certona and Monetate, we’ve created the leading personalization engine in the market, which will enable retailers to make the most of customer intent-driven data, deliver exceptional content experiences, and measure incrementality to optimize customer lifetime value at scale.”
“Monetate continues to be committed to providing our clients with capabilities to deliver the best experiences for their customers in every interaction over time. Our clients have leveraged our solution to deploy successful personalization strategies to drive growth and conversion”, said Stephen Collins, CEO of Monetate. “The opportunity to become part of a larger commerce platform with complementary products is exciting for both our clients and employees.”