RESEARCH TRIANGLE PARK – ChannelAdvisor is expanding its footprint and ecommerce services arsenal by acquiring Paris-based BlueBoard, a provider of data analytics with big-name clients such as L’Oreal and Logitech. The news came as the global ecommerce services provider reported preliminary financials for the second quarter – a strong one, the company said.

Financial terms weren’t disclosed.

ChannelAdvisor announced the deal early Friday.

“Brands are increasingly focused on their digital strategies and how to navigate rapidly-evolving consumer behavior. To do this effectively, they need best in class analytics to maximize visibility into their online channels so they can react quickly and appropriately to changing market dynamics. We’re excited to welcome the talented BlueBoard team and extend our analytics capabilities to help brands succeed in an increasingly competitive e-commerce environment,” said David Spitz, ChannelAdvisor CEO, in the announcement.

ChannelAdvisor says the BlueBoard deal will “help multi-channel brands manage online distribution, improve visibility, grow sales and protect their reputations by leveraging intelligence related to product assortment, pricing, brand product content, reviews, and search performance.”

“ChannelAdvisor is a recognized industry leader in the e-commerce space. By joining forces, we are able to add our deep experience to help launch ChannelAdvisor Brand Analytics, which is positioned to empower multi-channel brands to succeed online,” said Kevin Cohen co-founder and CEO of BlueBoard. “Given ChannelAdvisor’s global reach, extensive customer base and sizable salesforce, we see an opportunity to scale the business quickly.”

Preliminary results

ChannelAdvisor also reported preliminary financial results that showed revenues of $37.3 million for the second quarter that exceeded earlier guidance by nearly $5 million.

Adjusted earnings also are well above its forecast at $11.4 million.

“Our second quarter results were exceptional, with record revenues and record adjusted EBITDA both substantially exceeding our original guidance for the quarter,” Spitz said.

“Strong revenues were driven by sustained and broad-based growth in GMV as e-commerce spending remained elevated throughout the quarter, consistent with broader e-commerce trends as the COVID-19 pandemic caused a shift in consumer buying habits. Continued expense discipline and the scalability of our business model contributed to a significant improvement in profitability as well.”

COVID-19 & ecommerce: ‘This is our time’ says CEO of online services firm ChannelAdvisor