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$GOOG Makes a Small Purchase of Channel Intelligence

“Google has acquired Channel Intelligence for $125 million in cash.

According to its blog, Channel Intelligence tracks online retail sales for a number of categories ranging from computing to consumer packaged goods.

We’re unfamiliar with Channel Intelligence, but we assume it will be a part of Google’s efforts to ramp up display and shopping.

The more information Google has on your shopping habits, the better it can target what you want to buy.

More to come, but here’s the release in the meanwhile:

RADNOR, Pa., Feb. 6, 2013 (GLOBE NEWSWIRE) — ICG Group, Inc. (ICGE) (“ICG”) is pleased to announce that one of its consolidated companies, Channel Intelligence, Inc. (“CI”), has entered into a definitive agreement to be acquired by Google Inc. (GOOG) for $125 million in cash. The transaction, which is subject to customary closing conditions, is expected to be completed in the first quarter of 2013.

ICG is expected to realize approximately $60.5 million in connection with the transaction. A portion of ICG’s proceeds will be held in escrow and will be subject to potential identification claims. ICG does not expect to owe any income taxes in connection with the transaction….”

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