New York, N.Y., Jan. 17, 2000 Net Perceptions, Inc., a leading supplier of real-time personalization solutions, announced that it has signed a definitive agreement to acquire privately held KD1, Inc. (Knowledge Discovery One,), a leader in building advanced data analysis solutions for multichannel and dot.com retailers.
Under the terms of the definitive agreement, Net Perceptions will issue approximately 2.24 million shares of its common stock. The transaction, which will be accounted for as a purchase, is subject to various closing conditions, including the approval of KD1’s shareholders. Stockholders of KD1 holding the requisite number of shares necessary to approve the transaction have agreed to vote in favor of the acquisition. Upon completing the acquisition, Net Perceptions expects that it will have more than 280 employees, including KD1’s 60 employees.
This acquisition combines Net Perceptions’ market-leading, real-time recommendation technology with KD1’s ability to analyze and integrate vast amounts of customer information. KD1’s analysis of customers, products and promotions allows retailers to optimize their merchandise assortment, marketing tactics and pricing strategies. This sets the stage for Net Perceptions to build on this knowledge in real-time to provide the most accurate delivery of personalized recommendations across all customer touch points, including call centers, point-of-sale, kiosks and Web sites.
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