Armonk, N.Y. – IBM announced on Tuesday that it will
acquire Coremetrics, a provider of Web analytics software.
Financial terms of
the transaction were not disclosed.
Founded in 1999, San Mateo, Calif.-based
Coremetrics counts more than 2,100 brand clients using its online marketing services,
which include real-time personalized recommendations, email targeting, display
ad targeting across leading ad networks, and search engine bid management.
The
company has to date raised some $91 million in venture capital financing, from
backers including Accel Partners, FTV Capital, Highland Capital Partners and W
Capital Partners.
"By acquiring Coremetrics, IBM will be able to deliver
powerful new business analytics solutions, with the web analytics capabilities
clients need to help measure the effectiveness of their marketing campaigns and
understand the shopping habits, likes and dislikes of their customers,"
the company said.
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