Demandware^® Inc. 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.
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