PFORZHEIM, Germany, STOCKHOLM and HAMBURG, Germany, Oct. 20, 2021 /PRNewswire/ -- FACT-Finder announced today that it is acquiring Loop54, making it one of the first major consolidations of leading e-commerce SaaS solutions in search, merch and personalization. The merging of their proprietary algorithms will enable FACT-Finder customers to provide digital experiences that are unlike any other on the market and further expand FACT-Finder's international presence.
The acquisition accelerates innovation in e-commerce solutions for FACT-Finder customers and partners, giving them access to the latest developments in Machine Learning and Artificial Intelligence and providing them with a continued competitive edge. Integrating Loop54's artificial neural network into FACT-Finder will advance the quality of product discovery in online shops, delivering unique and responsive results with minimal data requirements.
Thanks to an intuitive backend designed for business users, everyone on the e-commerce team will have the power to implement changes on their own without tying up valuable IT resources. And with the help of AI and ML, optimized search and personalization run out-of-the-box giving the perfect balance of automation and control. This union of market-leading technologies provides brands, retailers and partners with the best and smartest tools to grow their businesses.
Emile Bloemen, CEO of FACT-Finder, emphasizes: "With the expertise and unique approach that our new colleagues at Loop54 bring to the table, we will significantly expand our market leadership and push the bounds of what is possible in e-commerce. I was really impressed by Loop54's real-time personalization technology, especially paired with the small amount of data that it requires. Considering their large market share in Scandinavia and our cultural fit of passionate, professional and personable people, we knew it'd be the perfect match for FACT-Finder."
Robin Mellstrand, CEO and co-founder of Loop54, describes: "Ten years ago, Mike Odin, Joel Kall and I had the idea to develop a personalized product search algorithm to improve relevance and speed in online shopping based on AI. Today, we are the only provider in the market to offer one-to-one personalization in product search with such high performance, ultimately solving a key challenge in online customer experiences. Our driving force remains expanding this innovation across e-commerce businesses worldwide. By uniting with FACT-Finder, we are able to expand our innovation potential as well as reach a broader customer audience with FACT-Finder's leading position in the DACH region. That's why this acquisition is very important and exciting for us."
In the spring of 2021, FACT-Finder announced their new entrepreneurial partnership with GENUI, a Hamburg-based investment company. Boris Klenk, Investment Director at GENUI, remarks: "With the acquisition of Loop54, we are not only strengthening the core offering of both companies but are also taking a big step to further scaling international growth."
FACT-Finder Next Generation has been voted Best Site Search Solution for three consecutive years. This leading e-commerce technology combines all digital shop functions that lead customers to the right products in record time. Complete with search, merchandising, personalization, recommendations as well as innovative AI solutions like the Predictive Basket, FACT-Finder is built to significantly increase conversion and sales. This is why more than 1,800 B2B and B2C businesses worldwide, including Mytheresa, Elkjøp Nordic, Mercateo and Distrelec, trust FACT-Finder.
Loop54 is the developer of one of the most powerful e-commerce platforms based on Artificial Intelligence, as well as the leading on-site search provider in the Nordics. With its in-house developed algorithm, Loop54 offers real-time, one-to-one personalization that provides users with relevant search results at high speed to leading e-commerce companies, including Office Depot, Not on the High Street, and Oliver Bonas.
GENUI is a company founded by renowned entrepreneurs and investment experts who believe in good entrepreneurship. GENUI exclusively makes long-term commitments to companies with the goal of creating sustainable growth and social value. Companies are given professional governance by getting access to entrepreneurs with industry-relevant expertise and their corresponding networks.