BURLINGTON, Mass.--(BUSINESS WIRE)--Demandware® Inc. (NYSE: DWRE) the industry-leading provider of enterprise cloud commerce solutions, today announced that it has acquired CQuotient, a next-generation cloud personalization provider.
The acquisition of CQuotient will accelerate Demandware’s plans to turn the valuable data created across its community of leading retail brands into actionable insights that empower retailers to optimize their business and differentiate consumer shopping experiences.
CQuotient applies advanced predictive science to the full picture of the shopper journey, including online and offline customer and product data, promotions and content. CQuotient’s technology has demonstrated results across marketing touch points and shopping channels for enterprise retailers including The Children’s Place, Staples and The Men’s Wearhouse.
“The CQuotient team, which includes world-class engineers and data scientists, is a fantastic addition to Demandware.” said Tom Ebling, CEO of Demandware. “CQuotient has developed a proven approach to convert large, complicated data into highly personalized shopping experiences. The combination of CQuotient’s expertise and predictive technology with the data in our cloud platform will provide retailers with a competitive advantage that cannot be replicated by traditional on-premise solutions.”
“Our mission has always been to transform retail by applying rigorous predictive science to consumer data across channels,” said Rama Ramakrishnan, Founder and CEO of CQuotient. “We are thrilled to join the Demandware team and look forward to leveraging CQuotient predictive technology and data science expertise to deliver data-driven solutions that help retailers personalize the shopping experience and accelerate revenue growth.”
Mr. Ramakrishnan, a leading data scientist focusing on personalized retailing and the optimization of retail merchandising and marketing, will become Demandware’s Chief Data Scientist and will lead the company’s data-driven research and development initiatives. Mr. Graeme Grant, President and COO of CQuotient and a thought leader in online retail and marketing, will also play an integral role at Demandware, defining and executing go-to-market strategies related to these initiatives.
Prior to CQuotient, Mr. Ramakrishnan was Chief Scientist and Vice President of R&D at Oracle Retail and ProfitLogic, a price optimization software company acquired by Oracle Corporation in 2005, a consultant at McKinsey & Company and also taught analytics in the MBA program at MIT Sloan School of Management. Mr. Grant was formerly CEO of Allurent, Vice President with Oracle Retail, and held a variety of leadership roles at ProfitLogic.
Demandware does not expect that this transaction will have a material impact on its 2014 financial results. Demandware’s management plans to discuss additional details regarding this transaction on the company’s third quarter 2014 financial results conference call.
Demandware, the industry-leading provider of enterprise cloud commerce solutions, enables the world’s premier retailers to move faster and grow faster in the changing face of retail. Demandware’s enterprise cloud platform minimizes the costs and complexities of running global, omni-channel commerce operations, and empowers retailers to respond with speed and agility to new market opportunities and continually evolving consumer expectations. For more information, visit www.demandware.com, call +1-888-553-9216 or email firstname.lastname@example.org.
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