I am pleased to share the news with you that we have finalized an agreement to sell our Consumer Insight business to leading technology company Edison Software. Under the terms of this deal, Edison will acquire the Consumer Insight platform, as well as the existing book of business. A small group of employees will also continue supporting the Consumer Insight platform as they move over to join the Edison team.
We’re very excited about Edison
Since we launched our Consumer Insight platform about four years ago, we have helped leading market research firms gain visibility into competitive landscapes, market trends, and purchase preferences by collecting and parsing item level ecommerce receipt data.
Consumer Insights technology will now help to power Edison Trends, an online dashboard showcasing national ecommerce trends research, which was launched earlier this year. Powered by an advanced artificial intelligence-based mail platform, Edison Trends provides comprehensive and up-to-the moment ecommerce-based intelligence and reports that are aggregated and anonymized to help customers better understand national purchase trends and shopping demand.
It’s clear that in Edison, we’ve found an ideal home for our Consumer Insights business and for the employees of our CI division. By adding the market knowledge, client portfolio, and dedicated team of Return Path’s Consumer Insights business to Edison’s growing panel and cutting edge AI based platform, we’re confident that both current and future customers will receive significant value.
And our customers should be excited, too
This development is nothing but good news for Return Path customers and partners. This move pairs with the divestiture of our Email Fraud Protection business to Proofpoint last summer, enabling us to focus 100% of our energy and resources on our core Email Optimization business and customers. As always, our focus is helping marketers reach their audience and maximize revenue through the email channel—and we remain firmly committed to this goal.
We are extremely proud of the work that our Consumer Insights team has done over the years, under the leadership of Eric Weinberg and Anita Absey, and we know this transaction will provide best possible outcome for that business and for Return Path as a whole.
Please don’t hesitate to reach out to us for more information.