E-commerce solutions provider CitX Corp. acquired Internet technology from
and made a 15 percent equity investment in software company iReactor
Technology Group (iTG).
iTG specializes in data mining and intelligent relationship management
marketing technologies for e-commerce. iTG is a subsidiary of privately held
iReactor Inc., an IP holding
company. Financial details of the transaction were not disclosed.
“A key element for the shared vision of the partnership is to develop a
common pool of intelligent relationship marketing technologies to which both
iTG and CitX and its subsidiaries will have access to use, sell and/or
further develop,” said Bernie Roemmele, chairman and CEO of CitX.
Utilizing intelligent agents to analyze available sales order data
information culled from direct sales to consumers both on and off line,
iReactor’s collaborative filtering technology describes patterns of consumer
preferences and the relationships between purchases and customer demographics.
CitX said it will combine its mind set marketing, data warehousing, and
intelligent mining technologies to provide predictive purchasing information
with “personalized” Internet content.
Roemmele will become a member of the board of directors of iTG. “Our initial
focus we will be to combine our proprietary technologies to develop and
deploy Internet-based products that enable businesses to automatically
predict and profile the personal habits of consumers as they use the Internet
or traditional point-of-sale systems,” he said.
