Both companies develop personalised search and product recommendations for e-retailers, using AI and ML. Today, on average, sales underpinned by AI-driven search optimisation account for a quarter of e-retailers' total turnover, and in some segments, even more than half.
When set up correctly, only 1 to 5 percent of searches end up with no results, according to Luigi's Box's experience. In contrast, for sites that don't use optimization, the no-results average can be 10-20 percent, or as high as 40 percent in some cases.
Additionally, Persoo's solution has increased companies' conversion rates from search by an average of 10-15 percent.
Luigi's Box has experienced several years of strong year-on-year growth, with more than 3,500 e-retailers now using their intelligent search.
The integration of Persoo into the structure of Luigi's Box will bring innovations and optimizations to the e-commerce market and consolidate Luigi's position as a search optimisation leader in the Czech and Slovak markets.
According to Gejza Nagy, co-founder and CEO of Luigi's Box:
"This opportunity has come at the right time in the evolution of Luigi's Box.
We've been working with Persoo on the acquisition for several months. We have a similar company culture, product, and vision for the future of e-commerce.
We're excited to have the Persoo team join us, bringing additional industry expertise and strengthening our position in Europe as we work towards new goals together.
On the client side, the transition will be as seamless as possible. We're confident that Persoo and Luigi's Box clients will benefit from us joining forces, as they will now get an even better product."
Pavel Pinkas, co-founder and CEO of Persoo, shared:
"Persoo and Luigi's Box have been following and inspiring each other for several years.
Over the years, the idea of joining forces came up several times, and the merger was completed at the end of last year. The product synergies will be a great benefit for our joint client base.
I'm excited about Persoo joining Luigi's Box, forming an even stronger European player. I look forward to combining our strengths, expertise, experience, and ideas."
Lead image: Luigi's Box. Photo: uncredited.