Home Depot has purchased an Austin, Texas retail software company that says it is now an innovation lab for the Atlanta home improvement retailer.
In an email, Home Depot spokeswoman Paula Drake said the company “will continue to invest in BlackLocus to expand its capability as a pricing, analytics and innovation lab,” but that it was too soon to announce further plans. The terms of the deal were not disclosed, but Drake said the acquisition was not material.
BlackLocus was a vendor for Home Depot, and provides pricing and competitive analytics, Drake said. BlackLocus announced the acquisition on its website Monday, saying it wanted to use a mix of public and internal data to create business intelligence software for retailers that used the increasing amount of information that the companies are able to access.
Home Depot acquired two other companies this year, including Redbeacon, a California business that sets customers up with professional contractors, and U.S. Home Systems, a Texas company that is part of Home Depot’s push to improve home service offerings.
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