E-commerce analytics start-up Rangespan bought by Google
Web giant will add UK firm’s technology to its range of services
UK start-up Rangespan, the e-commerce analytics firm founded by two former Amazon executives, has been purchased by US web search giant Google.
Founded in 2011 by former Amazon employees Matt Henderson and Ryan Regan, Rangespan uses market data technology to help its retailer clients decide what to sell and when.
Since launch, Rangespan has grown rapidly – helped by a $5m Octopus-led investment round in early 2013 – taking on leading British retail clients including Tesco, Asda and Argos.
Google’s purchase, the terms of which were not disclosed, will see Google add Rangespan’s technology to its in-house e-commerce offering.
It is the US giant’s latest high-profile acquisition of a UK tech start-up in 2014, following its purchase of ‘artificial intelligence’ start-up Deep Mind Technologies in January and advertising fraud detection start-up Spider.io in February.
In a short statement posted on its website, Rangespan said: “We are very happy to announce that Rangespan is joining Google.
“We will continue to work on services for shoppers and retailers at Google, and we’re super excited about the opportunities to come.”