Online sales climbed 24% year over year, while Best Buy’s overall sales were flat.
The vendor of on-demand merchandising and marketing systems will acquire Connect3 Systems, which sells advertising, merchandising and promotions software.
DemandTec Inc. has signed a definitive agreement to acquire privately held Connect3 Systems Inc. DemandTec offers on-demand merchandising and marketing systems for retailers and consumer brand manufacturers. Connect3 Systems sells advertising, merchandising and promotions software.
The transaction has been approved by DemandTec’s board of directors and is subject to customary closing conditions. The company expects the transaction to close during its fiscal quarter ending Feb. 28.
“This acquisition is a powerful step toward fulfilling our vision of retailer and manufacturer collaboration,” says Dan Fishback, president and CEO of DemandTec. “Our software-as-a-service solution for managing promotions provides a common understanding of shopper insight for retail and consumer products companies and enables an end-to-end process to collaboratively plan, optimize and execute more targeted promotions across multiple channels and media such as print, Internet, mobile devices and more.”
Connect3 modules will be incorporated into DemandTec End-to-End Promotion Management, a software-as-a-service program for managing the promotion process, including internal and external collaboration, planning, optimization, execution, and measurement.