FREMONT, CA BUSINESS WIRE -- January 15, 2001 -- Mercado Software, an e-catalog enabler, recently announced that it has completed the acquisition of Israel-based e-catalogue classification solution developer AGENTics. Mercado hopes the acquisition will offer its customers, who include Caterpillar Corporation, BellSouth, Firmbuy, Tower Records and Blockbuster Video, a more comprehensive e-catalog enablement solution.
The addition of AGENTics' technology will enable Mercado Software to improve search at the front end, while also improving the quality of data being searched at the back end. AGENTics is the developer of the SupplyChannel solution, which touts its ability to enable easier and more effective product classification through its understanding of data structure, critical components to the success of e-catalogs.
We are very excited to have acquired such an innovative company and to have its talented people join our team. The integration of their expertise into our product suite will greatly enhance our product offering, and it will help us attain a larger percentage of the catalog-enablement market, said Menachem Cohen, Mercado Software president and CEO. We have already built an extremely successful intuitive e-catalog search solution, IntuiFind, that has been recognized as a leader in its space. With the addition of AGENTics' technology, which takes away the pain' associated with manual data classification, we have the opportunity to greatly enhance our product offering for our B2B, B2C, and especially e-marketplace customers, all of whom seek to improve customer satisfaction and increase revenues.
Under the terms of the agreement, the AGENTics team of 20 engineers will be incorporated into Mercado Software's R&D center in Tel Aviv, Israel. The addition of this team is expected to provide Mercado with the necessary R&D resources to significantly augment their e-catalog product.