Google has signed a deal to acquire e-commerce-solutions company Channel Intelligence for $125 million in cash.
Channel's parent company, ICG, announced the deal today.
Channel's technologies are designed to boost the sale of products online. The company offers a Facebook platform, product search engines, and other services created for companies looking to improve product sales. Channel, based near Orlando, Fla., claims that it "drives $2 billion in sales annually in referred sales online in computing products, home improvement products, appliances, consumer electronics, toys and a variety of other consumer packaged goods."
Google is obviously no stranger to e-commerce, offering a Shopping page and a Checkout tool for online merchants. It's not clear, however, what it has planned for Channel.
ICG expects the deal to close in the first quarter. CNET has contacted Google for comment on the acquisition. We will update this story when we have more information.
Google spends $125 million for e-commerce firm Channel Intelligence
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Google spends $125 million for e-commerce firm Channel Intelligence
