Findify AB acquired by Canadian Namaste for $12M.

Findify AB, a Stockholm, Sweden-based company providing a software solution for intelligent e-commerce search & navigation, announced entering into an agreement to sell the company to Canadian Namaste Technologies Inc.

The transaction was made for $12M in a combination of cash ($2M) and common shares.

Findify, founded in 2014 by CEO Meni Morim, develops and sells A.I. powered e-commerce personalization, delivering solutions such as personalized search, recommendations, and advanced data analytics. Among its customers are Nine West, PLV Shoes, and Rocketdog.

Findify's annual 2017 revenue was $503,170 and its first quarter 2018 revenue was $198,211.

The company was backed by Swedish angel investors, including Hampus Jakobsson, who now makes the exit.