BriefsDigiMine Buys CoRelationFriday, April 13, 2001. BELLEVUE -- digiMine Inc. has acquired a Silicon Valley firm, CoRelation Inc. 2-year-old CoRelation, which employs 12, specializes in context-sensitive up-sells and cross-sells, and generating recommendations based on content mining. Both companies are privately held. DigiMine was founded last year by three former Microsoft Corp. executives, led by Fayyad. CoRelation was started in late 1999 by former managers of Liberate Technologies (formerly Network Computer Inc.), Compaq Computer Corp. and Sapient. Terms of the deal were not disclosed. The acquisition will allow digiMine to add CoRelation's Adaptive Merchandising Platform (or CAMP) and Application Specific Algorithm technologies, which are used for predictive data mining and personalization for multi-channel retailers, to its hosted data warehousing and data mining services. Omar Tawakol, CEO and president of CoRelation, in Menlo Park, Calif., said the merger of the two companies' technologies would help fulfill the promise of data mining in business The deal also adds six CoRelation customers to the 30 digiMine currently has. The additions include online bookseller barnesandnoble.com, which uses CoRelation's patent-pending search engine technology to suggest book titles to customers. See www.digimine.com |
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