Omniture, a company that specializes in online-business optimization software, providing Web analytics solutions to the retail industry, announced that it has agreed to acquire search and merchandising assets from Mercado.
"Omniture is the top supplier of Web analytics to the retail industry, and this acquisition extends our leadership further into merchandising," said Josh James, CEO and co-founder of Omniture.
Omniture may be one of the major companies in the online retail optimization market, but it's certainly not alone. The company competes with Kenshoo, which has, among others, experienced relatively strong growth in the space.
Once the deal is complete, Omniture will acquire only portions of Mercado's intellectual property and business assets for approximately $6.5 million in cash and the assumption of related operating liabilities. The deal cannot be closed until Israel, home to one of Mercado's offices, approves it.