Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Coremetrics and SurfAid will collaborate to deliver a business analytics solution specifically for use with IBM WebSphere Commerce software. The collaboration will provide insights across customer touch points ranging from the web to hand-helds.
Hosted analytics provider Coremetrics Inc. has acquired IBM’s on-demand SurfAid Analytics business. As part of the agreement, IBM WebSphere, the on-demand analytics software platform, and Coremetrics have teamed up to deliver a multi-channel analytics solution for web sites running on WebSphere Commerce software. Terms of the acquisition weren`t disclosed, but Coremetrics said the acquisition is a direct result of its receipt of $31 million in funding last month from FTVentures, Accel Partners and Highland Capital Partners.
Beyond SurfAid’s technology, which is complementary to Coremetrics’ offering, the deal brings Coremetrics additional web analytics talent, a diverse customer base that spans multiple industries, and a profitable business. Companies using SurfAid include Cirque du Soliel, IBM, Toyota Motor Sales, Verizon Super Pages, and others.
“We’re gaining 55 employees who have been working on web analytics, and now have over 200 employees," Coremetrics CEO Joe Davis says.
Coremetrics expects to merge the best of its platform with the best of SurfAid’s to create an integrated offering. The combination will include Coremetrics’ deep analytics and industry best practices along with SurfAid solutions such as visitor experience analysis, action ready reports, ad-hoc report building and other features.
The two product groups are jointly collaborating to innovate and will become each other’s lead partner in the area of e-commerce. The collaborative solution will provide insight into all WebSphere Commerce–driven customer touch points including the web, partner sites, in-store kiosks, contact center, gift registries, hand-held devices and more. By this September, IBM expects to release a version of WebSphere Commerce already set up to incorporate Coremetrics technology, or page tagging, that enables a web site to capture data on every click, Davis says.
“We are merging two of the web analytics’ industry’s most successful and tenured organizations. Together, we will remain focused on delivering market-leading solutions and functions which will continue to set the standard for the industry,” says John Payne, co-founder of SurfAid Analytics.