Coveo, the relevance cloud, has announced the acquisition of London-based Qubit, the commerce-focused personalization engine. The acquisition brings together two well-known players in the AI-driven commerce space. The cost of the acquisition was not announced.
Coveo’s offering is based around a self-teaching relevant search engine, which crunches data on user behavior to automatically generate next-best-content and recommendations. Qubit seeks to generate models based on individual shopper journeys to conjure personalized digital experiences.
The acquisition should also support Coveo’s move into European markets.
Why we care. The Coveo and Qubit offerings are similar but not the same, and if well integrated could deliver better outcomes to businesses seeking to steer shoppers through the best journey to conversion. The move comes against the background, of course, of an increased emphasis on digital commerce, and it’s notable in the release that Coveo is seeking to serve a range of channels, including chatbots and mobile.