FACT-Finder has bought AI-personalisation vendor Loop54, a move that further consolidates e-commerce SaaS solutions in the search market, according to both firms.
Merging the two companies’ proprietary algorithms allows FACT-Finder to provide more innovative digital experiences and widen its international presence.
"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,” said Emile Bloemen (pictured), CEO of FACT-Finder.
The e-commerce solutions provider said customers and partners will gain access to the latest developments in machine learning and AI. The integration of Loop54’s artificial neural network into FACT-Finder will advance the quality of product discovery in online shops, improving search results with minimal data requirements.
“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.” Bloeman added.
FACT-Finder says it provides supported automation and control with the combination of AI and machine learning, optimized search, and out-of-the-box personalisation.
“By uniting with FACT-Finder, we are able to expand our innovation potential as well as reach a broader customer audience with FACT-Finder’s leading position in the DACH region,” added Robin Mellstrand, CEO and co-founder of Loop54. “That's why this acquisition is very important and exciting for us."
FACT-Finder claims it serves more than 1,800 B2B and B2C businesses worldwide, with brands like Mytheresa, Elkjøp Nordic, Mercateo and Distrelec, among its client roster.