The transaction marks the third acquisition for Nosto in 18 months as it moves to become the technology of choice for ecommerce site search and cement its position as the leading CXP for online brands globally
New York, December 15, 2022 – Nosto, the leading Commerce Experience Platform (CXP), has today announced its acquisition of AI-powered product discovery platform, Findologic, for an undisclosed sum.
The transaction follows Nosto’s acquisition of ecommerce search company, SearchNode, in January 2022, marking the second search technology deal for Nosto in 12 months. It also follows the purchase of user-generated content (UGC) platform Stackla in June 2021.
“The acquisition of Findologic demonstrates Nosto’s commitment to winning the product discovery market globally with our Commerce Experience Platform. Our search and merchandising capabilities have expanded rapidly during the past years, and we have remained focused on successfully integrating the technology and teams, which has allowed us to successfully bring impactful tools and technologies to our customers and partners globally,” says Jim Lofgren, CEO of Nosto.
Founded in Salzburg, Austria, by Matthias Heimbeck in 2008, Findologic is an ecommerce search leader in Germany, Austria, and Switzerland (DACH), empowering product discovery through its AI-powered platform for customers including Carrera Toys, Calumet Photographic, Alpha Industries, ASMC, and Kitlocker.
“Findologic was founded with the aim to create intuitive and dynamic shopping experiences for individual shoppers online. Being built on such an ambition makes an acquisition with Nosto the perfect fit. Helping shoppers find the right product at the right time is critical to driving conversions for online brands, and we’re excited to continue on that journey with Nosto,” says Matthias Heimbeck, Founder and CEO of Findologic.
With offices in Salzburg, Austria; Munich, Germany; and London, UK; the acquisition adds 50 Findologic employees to Nosto’s headcount, in the form of sales, marketing, partnerships, and product engineers. The immediate headcount expansion with additional ecommerce technology talent means that Nosto is uniquely empowered to continually build the most robust and performant Commerce Experience Platform for online retailers to deliver authentic and personalized shopping experiences that increase online revenue.
With a focus on innovative data science, Findologic’s development team will work with Nosto to continue building market-leading experience-led products that meet current customer needs as well as equip them for success in the future.
“Search plays a huge role in personalizing the digital experience but customer needs continually change and we evolve our product to meet those needs. This acquisition allows us to accelerate our product development roadmap with access to new talent and technologies. It also allows us to continue building the best personalized search solution on the market that uses customer intelligence and segmentation from our core platform, as well as the data from all areas of our Commerce Experience Platform such as Product Recommendations, Content Personalization, Category Merchandising and beyond,” says Tuukka Häkkinen, Global Head of Product at Nosto.
“Valuable search data is often siloed within point solutions–this causes a fragmented shopping experience where it’s difficult for customers to find the things they are looking for. Having all your experience solutions in a single Commerce Experience Platform, sharing the same vast intelligence pool, pays huge dividends for online brands meaning they can truly personalize every element of the online experience from the moment a shopper lands on the site,” says Häkkinen.
With Findologic’s extensive footprint in the Shopware ecosystem, this acquisition reaffirms Nosto’s longstanding relationship and commitment to the global ecommerce platform and makes it the most comprehensive commerce experience solution in the online retail technology ecosystem. The deal adds a significant number of Shopware merchants to Nosto’s already large Shopware roster, further strengthening its position as it expands to cover more geographies and products.
The acquisition also follows hot from Nosto’s announcement on December 7, 2022, that it has partnered with Shopware to bring its Commerce Experience Platform to their app marketplace ‘Shopware Store’ via a newly-released plugin, meaning all Shopware merchants globally can benefit from Nosto’s full breadth of commerce experience solutions.
“Together, Germany, Austria, and Switzerland make up one of the largest ecommerce markets within Europe and one of the most attractive regions to work with. Through this acquisition, we’re consolidating part of that market and becoming the leader in ecommerce search, giving retailers a clear choice when looking for a commerce experience solution,” says Matthäus Bognar, General Manager, International, at Nosto.
Nosto remains committed to Findologic’s customer base and looks forward to serving them for many years to come. Customers will be empowered to succeed even further by being offered access to Nosto’s Commerce Experience Platform, opening up exciting opportunities for them to benefit from a wide range of solutions that can help them achieve full-funnel personalization and deliver 1:1 commerce experiences for every shopper across every device.
Findologic customers will join global names such as Muji, Paul Smith, Pangaia, Dermalogica, Virgin Australia, and Radisson as well as brands such as Douglas, Steinel, and Blickfang on the Nosto Commerce Experience Platform.
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About Nosto
Nosto enables online brands to deliver authentic, relevant, and personalized experiences at every touchpoint, across every device. An AI-Powered Commerce Experience Platform (CXP) designed for ease of use, Nosto empowers brands to build, launch, and optimize compelling digital experiences without the need for dedicated IT resources or a lengthy implementation process. Leading brands in over 100 countries use Nosto to grow their business and delight their customers. Nosto supports its clients from its offices in New York, Los Angeles, London, Paris, Berlin, Stockholm, Sydney, Kaunas and Helsinki.
About Findologic
Findologic has been developing advanced search solutions for online stores since 2008 and is one of the leading providers. Because customers only buy what they can find! That’s why we have developed the Findologic Platform a unique new approach leading to unprecedented efficiency in online stores. In particular, we focus on the behavior of the online store’s customers. Findologic’s Linguistic Shopping Assistant delivers the best, AI-powered results and skills for every situation directly. The intelligent technology thus ensures satisfied customers in your store and optimizes the user experience.
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Source: RealWire