IBM has agreed to acquire Tealeaf Technology, a provider of customer experience analytics software which is used by marketing executives analyse online buying data and respond faster to trends.
Financial terms of the deal has not been disclosed and the deal is expected to close in the second quarter of 2012.
The deal forms part of IBM’s plan to extend its Smarter Commerce initiative by adding qualitative analytics capabilities that it said would provide marketing officers, e-commerce and customer service professionals with real-time insights customer’s buying experiences across online and mobile devices.
Tealeaf chairman and chief executive officer Rebecca Ward said, "Tealeaf’s patented technology can be deployed into a business’s current environment with no needed modifications so they begin capturing customer data and delivering optimal experiences immediately."
Tealeaf’s technology will allow marketers to provide an optimised online customer experience leading to improved revenue, customer satisfaction, customer service productivity and profitability, IBM stated.
Tealeaf will be integrated into IBM’s Enterprise Marketing and Management (EMM) Group, which includes previously acquired assets though IBM’s more than $3bn in acquisitions, including Coremetrics, Unica and DemandTec.
Tealeaf serves over 450 customers worldwide in financial services, travel, retail and communications services with clients such as Dell, Wells Fargo, Air Canada, Orbitz, Crate & Barrel, and Neiman Marcus.
The privately held company, spun off by SAP in 1999, is headquartered in San Francisco, California and has been funded by venture capital firms, including Foundation Capital, Matrix Partners and Bay Partners.
