Lowe’s Acquires Boomerang Commerce

Lowe’s (Mooresville, N.C.) has acquired Boomerang Commerce’s (Mountain View, Calif.) retail analytics platform, according to Chain Store Age. Reportedly the technology will be integrated into Lowe’s main retail business while also supporting data-driven pricing, strategy and merchandise assortment.

“One of the key components of our transformation here at Lowe’s is to modernize our technology. Pricing and assortment planning have been identified as strategic areas in need of modernization. And when we find the right assets available to buy and advance our strategy, we’ll do that,” said Seemantini Godbole, Lowe’s Chief Information Officer, according to Chain Store Age.

The platform apparently taps into pricing and product datasets in order to come up with insights.

While the full terms of the acquisition were not disclosed, Lowe’s reportedly acquired proprietary technology and tools for the analytics platform, but not customer contracts or confidential data. Moving forward, some associates from Boomerang’s retail analytics team will join the home improvement retailer, Chain Store Age reports.