Market Track, LLC Acquires Channel IQ
By Business Wire News
By Business Wire News
Market Track, LLC, the leading provider of advertising, promotions, pricing and eCommerce intelligence solutions, announced today that it has acquired Channel IQ LLC (Channel IQ), a leading provider of pricing intelligence, Minimum Advertised Price (MAP) monitoring, and Where-to-Buy (WTB) eCommerce solutions. Financing for the transaction was provided by Golub Capital. Terms of the transaction were not disclosed.
Chicago-based Channel IQ has established itself as a leading provider of eCommerce channel management solutions, serving more than 600 of the world’s leading brands across nearly every major product category. Channel IQ’s framework and methodology for effectively executing MAP solutions is well recognized. In 2015, Channel IQ launched its new WTB platform that allows brands to easily and effectively engage their customers online, direct them to authorized retail partners, and closely monitor the results of these campaigns.
Commenting on the Channel IQ acquisition, Wayne Mincey, CEO of Market Track, said, “This acquisition continues to advance Market Track’s vision of revolutionizing how companies leverage market intelligence into tangible business results. The combination of Market Track and Channel IQ creates a new industry leader in the eCommerce intelligence space by combining Market Track’s massively scalable retailer data collection and brand protection capabilities with Channel IQ’s proven MAP monitoring expertise and breakthrough WTB platform. We are confident that the transaction will create significant benefits for our clients, improving MAP compliance and brand protection execution while also enabling our brand clients to more effectively engage with their customers in the online world and increase sales.”
Andy Walker, Channel IQ’s CEO, added, “We’re thrilled to join the Market Track team as it offers a market leading, best-in-class technology platform with significant scale and is a firm with a reputation for outstanding client service. The combination of our highly complementary offerings will provide the clients of both businesses with unmatched channel visibility through accurate, timely, and actionable cross-channel data and insights that inform critical business decisions.” Walker added, “The timing of this transaction could not be better as we are just months away from our annual Compass event, which brings together leaders from across the retail and brand continuum to discuss industry trends, best practices, and strategies for overall eCommerce success. We are excited to share more details regarding the alignment of our two firms and what our clients can expect in terms of expanded offerings at the event.” Compass will take place in Chicago on September 7-8.
About Market Track
Headquartered in Chicago, Illinois, Market Track is the leading provider of subscription-based advertising, promotions, eCommerce and pricing intelligence solutions in North America. Through its monitoring of multi-channel trade and promotional advertising as well as pricing and eCommerce activity, Market Track provides the most comprehensive coverage of key media channels available. Offered via a web-based SaaS platform, Market Track’s solutions enable advertisers, agencies, retailers, and manufacturers of consumer goods to efficiently monitor and analyze causal data, creative execution, and ad spending to maximize the value of their marketing campaigns. Clients use Market Track’s capabilities to determine how competing retailers, products, and brands are being advertised, priced, and promoted both in-store and online. The company’s granular creative assets and data cover nearly every retail trade class, product category, and media channel. For more information, please visit www.markettrack.com.
About Channel IQ
Channel IQ is a leading provider of subscription-based eCommerce channel management solutions, offering industry-leading online retail intelligence solutions via a SaaS-based platform. Combining real-time pricing intelligence with fully managed compliance services that enable clients to automatically act on new information, Channel IQ empowers manufacturers and retailers to take control of channel conflict as well as monitor competitors and channel partners. Channel IQ further leverages its extensive product data with a customizable Where-to-Buy solution that turns manufacturer websites into powerful lead generation tools. For more information, please visit http://www.channeliq.com.