Google buys e-commerce firm Channel Intelligence for $125m

Google has acquired e-commerce solutions firm Channel Intelligence (CI), in a deal worth $125m.

CI makes e-commerce software aimed at boosting the sales of product and services by making them easier to find on the web. The deal is expected to close within the first quarter of 2013.

"We are pleased to announce that CI has entered into an agreement to be acquired by Google," CI wrote in a statement on its website.

"For over 10 years, we have focused on making it easy for consumers to find and buy products online and help our clients grow their business. We've worked with Google for years, and look forward to the great things we will be able to do together."

CI flagship product, CI Boost, assists retailers by increasing product visibility on Facebook, search engines, and shopping engines.

The firm was a Google Shopping launch partner prior to the purchase agreement. CI claimed it helped merchants optimise Return on Ad Spend (ROAS) for product listing ads.

CI has worked for firms like Phillips, HP, and Best Buy claiming to have driven $2bn in sales annually through the use of its technology.

For Google, the purchase comes following its 2012 fourth quarter financial report. Last month, the search giant reported it netted over $50bn in revenues. The firm also made waves when it completed its purchase of Motorola last year.