Nike, the sportswear shoemaker has announced that it is acquiring Boston-based Celect for an undisclosed sum in order to fuel its Consumer Direct Offense strategy. Celect, the cloud-based SaaS platform was launched by Devavrat Shah and Vivek Farias in 2013 as a platform which can help retailers in the optimization of their inventory portfolios in stores. Nike will integrate the Celect technology into its mobile apps and websites so that they will have a clue regarding the needs of the customers.
Since its inception, Celect had raked up $30.2 million in funding with its last investment coming in December last year when it picked up $15 million co-led by Fund Capital and NGP Capital. Activant Capital and August Capital are the other two backers of the firm.
Eric Sprunk, NIKE, Inc. Chief Operating Officer talking about the deal said that “With the acquisition of Celect, Nike greatly accelerates our digital advantage by adding a platform developed by world-class data scientists. As demand for our product grows, we must be insight-driven, data-optimized and hyper-focused on consumer behavior. This is how we serve consumers more personally at scale.”
John Andrews, Celect CEO said that they were excited to join Nike. “We are thrilled to be joining the Nike team, adding our unique and innovative capabilities to the data and analytics foundation they've been building over the years,'' Andrews said.
Notably, both the co-founders will act as a consultant for Nike as part of the deal. It will be interesting to see how the duo and their team can help Nike in their inventory management.
Image Courtesy : performancein, celect