DigiMine is acquiring CoRelation, a developer of predictive data mining and personalization systems. Terms of the deal weren’t announced and the acquisition is expected to be finalized in about a week.
Under the merger, digiMine will incorporate CoRelation’s technology, intellectual property and customer base into digiMine’s operation staff. “We offer data warehousing and data mining applications and the acquisition of CoRelation will help us expand into real-time recommendation and personalization,” says digiMine CEO Usama Fayyad.
CoRelation’s technicalstaff includes several doctorate holders from Stanford University who jointly developed predictive algorithms, collaborative filtering, and text mining applications.
CoRelation’s technology can be applied in many ways to provide businesses with customer insight and decision support, as well as personalization and recommendation systems.
For example, CoRelation technology serves as a recommendation engine to identify and deliver personalized product and content information to online shoppers.
CoRelation’s personnel will join digiMine and will also establish new offices for digiMine in San Francisco and Chicago.
By: Mark Brohan
Source: Direct Marketing Review / PDF