A company that helps big brands monitor pricing compliance has been sold. Market Track acquired Channel IQ for an undisclosed sum, the companies announced on Thursday.
Headquartered in Chicago, Market Trackprovides subscription-based advertising, promotions, ecommerce and pricing intelligence solutions. Clients use Market Track’s capabilities to determine how competing retailers, products, and brands are being advertised, priced, and promoted both in-store and online.
Also based in Chicago, ChannelIQ offers brands channel management solutions. For instance, it helps manufacturers track product prices in real-time, monitor for minimum advertised price (MAP) pricing policy compliance, and helps detect gray market sellers and counterfeit activity.
Channel IQ customers include over 600 leading brands across nearly every major product category.
In announcing the deal, Market Track CEO Wayne Mincey said, “This acquisition continues to advance Market Track’s vision of revolutionizing how companies leverage market intelligence into tangible business results. The combination of Market Track and Channel IQ creates a new industry leader in the ecommerce intelligence space by combining Market Track’s massively scalable retailer data collection and brand protection capabilities with Channel IQ’s proven MAP monitoring expertise and breakthrough WTB platform.”
He went on to say, “We are confident that the transaction will create significant benefits for our clients, improving MAP compliance and brand protection execution while also enabling our brand clients to more e
