FACT-Finder is acquiring Loop54, making it one of the first major consolidations of leading e-commerce SaaS solutions in search personalisation.
Yes, it’s M&A time again.
The merging of the two company’s proprietary algorithms lets FACT-Finder customers provide digital experiences and expand FACT-Finder’s international presence.
The company reckons the takeover will accelerate new stiff in e-commerce solutions for FACT-Finder customers and partners, giving them access to the latest developments in Machine Learning and Artificial Intelligence.
FACT-Finder CEO Emile Bloemen said: “With the expertise and unique approach that our new colleagues at Loop54 bring to the table, we will significantly expand our market leadership and push the bounds of what is possible in e-commerce. I was really impressed by Loop54’s real-time personalisation technology, especially paired with the small amount of data that it requires. Considering their large market share in Scandinavia and our cultural fit of passionate, professional and personable people, we knew it’d be the perfect match for FACT-Finder.”
Loop54 CEO and co-founder Robin Mellstrand said ten years ago, Mike Odin, Joel Kall and he had the idea to develop a personalised product search algorithm to improve relevance and speed in online shopping based on AI.
“Today, we are the only provider in the market to offer one-to-one personalisation in product search with such high performance, ultimately solving a key challenge in online customer experiences. Our driving force is expanding this innovation across e-commerce businesses worldwide. By uniting with FACT-Finder, we can expand our innovation potential as well as reach a broader customer audience with FACT-Finder’s leading position in the DACH region. That’s why this acquisition is especially important and exciting for us.”
In the spring 2021, FACT-Finder announced its entrepreneurial partnership with GENUI, a Hamburg-based investment company. Boris Klenk, Investment Director at GENUI, said: “With the acquisition of Loop54, we are not only strengthening the core offering of both companies but are also taking a big step to further scaling international growth.”
