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Home Depot acquires analytics platform Askuity

Home Depot Inc. has acquired retail analytics platform Askuity Inc., tech industry news site Techvibes reported Jan. 11.

Financial terms of the deal were not disclosed.

Askuity's platform allows retailers to automatically share point-of-sale and inventory data with vendors to improve collaboration, execution and decision-making along the retail supply chain.

"Askuity had chosen strategically to focus on home improvement as a target vertical with a view to building credibility and a critical mass of vendor customers," Eric Green, founder and CEO of Askuity, said in a statement.

The report said Askuity has already been working with many of Home Depot's largest vendors. "We developed a relationship with The Home Depot, which led to a partnership and ultimately to the acquisition," Green was quoted as saying.

Home Depot declined to comment to S&P Global Market Intelligence about the deal.