Lengow, an ecommerce automation platform, has announced the acquisition of Netrivals, a leading Saas provider of price and market intelligence. This move is in line with Lengow’s strategy as well as a clear response to market trends and the increasing demands of brands and retailers for intuitive ecommerce solutions, with powerful actionable insights.
Founded in 2016 in Barcelona by Ivan Ramirez and Salvador Fabregas, Netrivals is a recognised expert on pricing, product attributes, and image recognition, with a unique data tracking technology, across over +1,000M products from +32K stores. It enables businesses to make more effective pricing decisions and boost their e-commerce sales.
As brands and retailers embrace their omnichannel strategy, they have a critical need for a comprehensive global view of the potential of their products in the market. Our customers and marketplace partners have been asking for more capabilities for pricing intelligence alongside the Lengow solution, to activate the product data based on reliable market insights. We’re excited to expand our offerings with this acquisition and continue to innovate to help brands and retailers succeed in their ecommerce strategies.– Mickael Froger, CEO, Lengow
Trusted by a wide range of clients across the UK, Germany, Italy, Spain, France, Australia and the Nordics, Netrivals also enables Lengow to accelerate its international expansion. By early 2021, Marlin Equity Partners, a global investment firm with $8.1 billion of capital commitments under management, had already secured a majority stake in Lengow. After opening offices in Germany (Munich) and the UK (London) in 2021, Lengow will now take advantage of the acquisition from Netrivals to open its office in Barcelona, Spain.
Over the last six years, we have built a leading pricing intelligence and market analysis software company. By adding two very competent best-of-breed solutions, we are creating one extremely compelling suite. Together we are on the path to shape the next generation of Digital Shelf Analytics – which is an exciting journey both for us and our international customers.– Ivan Ramirez, CEO, Netrivals
Financial details of the transaction have not been disclosed.