Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Tealeaf is the latest acquisition target for IBM’s Smarter Commerce initiative.
In its latest move to acquire technology that helps retailers better understand and market to online consumers, IBM Inc. last month announced plans to acquire Tealeaf Technology Inc., whose software analyzes consumer behavior on Internet and mobile sites.
While not disclosing the purchase price, IBM says it has invested $3 billion in its Smarter Commerce initiative designed to address client technology needs in the digital age. Its investments include its $440 million acquisition of DemandTec, which analyzes consumer buying behavior, announced in December 2011; the 2010 deal to buy web analytics vendor Coremetrics for an undisclosed price, and the August 2010 purchase of online marketing firm Unica for $480 million.
"Marketers must continuously deliver a better customer experience on both the web and mobile devices to meet the expectations of today's empowered consumers," says Craig Hayman, general manager of Industry Solutions at IBM. "With these new capabilities from Tealeaf, we cannot only provide chief marketing officers and other marketing leaders the qualitative insights into how customers actually experience their brands, but show them how to react in real time across marketing, sales and service."
Tealeaf's software was developed by SAP AG, the German provider of business software. SAP spun off Tealeaf in 1999. Based in San Francisco, privately held Tealeaf has been funded by venture capital firms, including Foundation Capital, Matrix Partners and Bay Partners.