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Google buys UK retail forecasting firm Rangespan
2014/5/2
Internet giant Google has bought Rangespan, a UK start-up that uses data science to help retailers determine which products to sell and when.
Founded in 2011 in London by former Amazon employees, Rangespan is the third UK start-up to be acquired by Google this year.
On its website, Rangespan wrote: "We are very happy to announce that Rangespan is joining Google."
The terms of the purchase were not made public.
Rangespan has previously helped clients such as Tesco and Asda use real-time sales data to better predict which products will be popular with customers and to better manage supply chains.
Google will absorb the firm and its technology and Rangespan will no longer sell services to clients.
"As part of the change, we will wind down Rangespan's services. We've already begun working individually with each of our retailers and suppliers on this process," the firm said on its website.
The move comes as Google aims to expand its Google Shopping web portal and e-commerce offerings.
