Retail market intelligence provider EDITED has acquired DynamicAction, which specializes in internal retail analytics. The newly combined company, which will operate under the EDITED name, will allow retailers to combine global market data with supply chain ecosystem information for rapid insights. Financial terms of the deal were not disclosed.
“Our acquisition of DynamicAction marks a significant milestone in our mission to transform the future of ecommerce,” said Geoff Watts, CEO and Co-founder of EDITED in a statement. “Together we can leverage AI across all parts of a business, unlocking never-before-seen retail automation. This brings us one step closer to the industry’s objective of high-speed retailing.”
EDITED, in operation for more than a decade, has helped 200+ leading retailers and brands, tracking more than 2.5 billion SKUs every day. Brands including Zara, Puma, John Lewis, Marni and Tommy Hilfiger use its suite of Market Intelligence products. Now, in addition to its existing real-time global market data, the EDITED platform will offer internal data analytics for ecommerce, physical stores and omnichannel retail teams.
With the addition of DynamicAction’s 150+ enterprise and cloud system data connectors, customers will be able to unlock greater value from federated first-party data systems to help them increase sales and improve margins.
“Data-driven decision-making has always been our goal for retailers, and we’ve taken a big step forward to insight-driven action,” said John Squire, CEO and Co-founder of DynamicAction in a statement. “With the backing of great investors and customers, we have focused hard to find faster, smarter ways to empower merchants, marketers and brand operating teams. Now, as part of EDITED, we’re thrilled to join Geoff and his team to deliver deeply connected data, insight and actions that leading retailers and brands will adopt to thrive and succeed.”