Cloud commerce firm Kibo has reached an agreement to acquire testing and optimisation firm, Monetate. The acquisition will expand Kibo’s personalisation capabilities and in addition to complementing its Certona solution – which it acquired in February – will also extend the reach of Kibo’s end-to-end cloud commerce platform.
Kibo said the addition of Monetate to its commerce cloud offerings means its retailers and brands will be better equipped to curate, test, and optimise customer experiences intelligently and consistently online, in-store, through mobile apps and via AI assistants.
The acquisition will enable Kibo to offer A/B & multivariate testing, content personalisation, and audience building and targeting via a self-serve user interface designed for merchandisers and marketers.
Both Certona and Monetate were named Leaders in the 2019 Gartner Magic Quadrant for Personalisation Engines, anchoring on their respective strengths of recommendations and testing. Monetate clients will now have access to Kibo’s Order Management, eCommerce, and Certona personalisation recommendations and search solutions.
“Providing a personalised customer journey is vital to brands and retailers in today’s competitive marketplace,” said Kibo CEO, David Post. “Consequently, we’re going to heavily invest in personalisation as part of our commerce cloud to outpace our competitors in providing both innovation and a holistic suite of solutions.
“With Monetate, we recognised the opportunity to acquire a market leader in discovery, segmentation, testing, measurement, and optimisation. Through the combination of Certona and Monetate, we’ve created the leading personalisation engine in the market, which will enable retailers to make the most of customer intent-driven data, deliver exceptional content experiences, and measure incrementality to optimise customer lifetime value at scale.”