1WorldSync, which is backed by Battery Ventures, has agreed to buy CNET Content Solutions from Red Ventures. No financial terms were disclosed. The deal is expected to close in the fourth quarter of this year. CNET Content Solutions is a content-as-a-service provider.
CHICAGO, Nov. 23, 2020 /PRNewswire/ — 1WorldSync™, the leading provider of product content solutions, today announced that it has entered into a definitive agreement to acquire CNET Content Solutions from Red Ventures. The transaction is expected to close in the fourth quarter of 2020.
CNET Content Solutions (CCS) is a leading content-as-a-service provider. It creates product information, rich content, tools, services and analytics to power global e-commerce sites, from small-and-medium businesses to large-scale enterprises. For more than 20 years, CCS has partnered with manufacturers, distributors, retailers, VAR’s and marketplaces to aggregate, manage, exchange and syndicate product information. CCS also provides cross-sell and up-sell services, product finders and selectors quote/procurement, software-as-a-service (SaaS) solutions and e-commerce store services. The acquisition expands and strengthens 1WorldSync’s e-commerce content creation and syndication capabilities across the consumer electronics, IT, office supplies, and appliance sectors.
“CNET Content Solutions is the leader in providing structured product information, rich content, and workflow & integration solutions in consumer electronics and other important and growing categories for 1WorldSync,” said Steve Sivitter, CEO of 1WorldSync, a company backed by global investment firm Battery Ventures. “They are the authority in these categories for retailers like Amazon, Best Buy, Walmart, Staples, Costco and more than 900 other retailers in their global network.”
According to a 2019 eMarketer study, global retail eCommerce sales are forecasted to grow to $6.5 trillion in 2023, driven by the increasing adoption of digital shopping worldwide. With 85% of consumers conducting online research before making a purchase, having detailed and accurate product information is critical for brands and retailers. The acquisition follows 1WorldSync’s recent announcement of its new Content Acceleration solution, which enables brands to enhance, automate and accelerate the sourcing, enrichment, management, and distribution of product content for B2B and B2C commerce experiences.
“CNET Content Solutions gives us even greater reach and capability across categories and allows us to provide brands and retailers the most comprehensive content solutions in the marketplace,” said Randy Mercer, Vice President of product at 1WorldSync. “Collectively, our Content Acceleration suite and CCS provide our current and future customers the mission-critical product content that drives commerce, both in-store and online.”
The foundation of the CNET Content Solution suite includes two core capabilities, currently known as DataSource and ContentCast. DataSource converts non-standardized product information and content from many sources into consistent content for omnichannel commerce. The end result represents the most accurate, timely, complete, and trusted product content in the industry. ContentCast enables brands to thoroughly represent their products with compelling rich content. Featuring drag and drop formatting support for video, copy, 360° spin imagery and 3D/AR, ContentCast enables a compelling and engaging digital experience.
“The CCS team is very excited to join forces with the 1WorldSync team to provide our mutual clients and the market an expanded level of product content and solutions across all channels,” said Eric Lundin, General Manager of CNET Content Solutions. “Complete, accurate and timely product content is critical to ensuring buyer’s confidence online and in-store. The 1WorldSync robust solution set and capabilities, being brought to market now by our combined and highly experienced teams, will provide expanded services and benefits for CCS clients.”
A key element of the integration strategy is to provide a seamless transition for CNET Content Solutions’ clients. Both companies are fully committed to ensuring the same high quality level of product delivery and support that CCS clients are accustomed to during and after this integration period. “The combined teams, technologies and services are multipliers for our long term strategy and for the customer communities we will positively impact as a result of this integration,” said Sivitter.
To learn more about 1WorldSync’s end-to-end content capabilities and other services, visit www.1worldsync.com.
1WorldSync™ is the leading provider of product content solutions, enabling more than 12,000 global companies in over 60 countries to share authentic, trusted content with customers and consumers, empowering intelligent choices for purchases, wellness and lifestyle decisions. Through its technology platform and expert services, 1WorldSync provides solutions that meet the diverse needs of the industry. 1WorldSync is one of the only product content network providers and GDSN Data Pool to achieve ISO Certification 27001. For more information, please visit www.1worldsync.com.
About CNET Content Solutions
CNET Content Solutions is the global leader in the exchange of product information, rich content and ecommerce solutions that powers ecommerce sites from SMB to Enterprise. For more than 20 years, CCS has partnered with manufacturers, distributors, retailers, VARs and marketplaces to aggregate, manage, exchange and syndicate product information, including images and specification details. In addition, CCS provides cross-sell and up-sell services, product finders and selectors, quote/procurements, Saas solutions and e-commerce store services. For more information, please visit www.cnetcontent.com