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Inuvo Inc acquired by privately-held Conversion Point Technologies Inc

The joint company wants to use machine learning to spur e-commerce fit to rival retail giant Amazon
data technology
Inuvo has the technology to identify and analyze consumer behavioral data

Shares of Inuvo Inc (NYSE-American:INUV) more than doubled on Monday after the company announced it was being bought by privately-held ConversionPoint Technologies Inc for around $75.5 million.

In a joint statement, the two companies said the acquisition will be a cash-and-stock transaction valued at approximately $2.22 per share of Inuvo common stock based on 34,077,624 common shares outstanding and restricted stock units that will immediately vest upon closing. Inuvo shareholders will receive $0.45 per share in cash and stock valued at an estimated $1.77 per share.

ConversionPoint is acquiring Inuvo for its AI-driven consumer behavior technology, which leverages machine learning to mirror the way the human brain instantly associates ideas, emotions, places, people and objects.

The combined company is expected to offer large and small businesses a new way to compete more effectively, increase online sales, achieve higher media spend ROI and improve customer lifecycle engagement. The AI-powered platform is expected to create a competitive e-commerce solution for major non-Amazon channels, such as Shopify, Big Commerce, and

Shares of Inuvo soared 105.41% to $0.85, having earlier jumped more than 202% to $1.25.

READ: How e-commerce is killing a ‘white glove’ store full of fun gizmos and gadgets like Brookstone

"Amazon controls nearly half of the $450 million in online retail sales in the US thanks to their proprietary data-driven approach to consumer analysis and marketing,“ explained ConversionPoint CEO Robert Tallack.

“Online retailers and brands have been searching for an end-to-end data driven technology to help provide accurate information they can use to acquire customers. We believe that together our end-to-end, AI powered, e-commerce platform can offer those capabilities to the online retail channel and the direct channel that the market has been actively searching for,” he added.

ConversionPoint enhances consumer product experiences, optimizes media spend, enables upsell, and manages fulfillment and retargeting. The company is based in Newport Beach, California.

Inuvo has the technology for identifying and analyzing consumer behavioral data, along with direct access to advertising inventory from large media and technology partners. The company is based in Little Rock, Arkansas.

Reporting by Rene Pastor, contactable on [email protected]

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