inRiver acquires Detail Online for SEK 150 million

inRiver, a Malmö, Sweden-based developer of a product information management (PIM) solution,  announced the acquisition of Stockholm-based Detail Online, a developer of an AI-powered analytics solution.

The deal is estimated at SEK 150M ($18M).

The acquisition brings the number of global inRiver employees to more than 240 and provides an entry into the APAC region. The combined organization will further strengthen global customer service and support to serve customers worldwide.

inRiver, founded in 2007 and led by CEO Thomas Zanzinger, developed a product information management solution that integrates smoothly with other technologies in the ecosystem to offer a scalable multitenant SaaS solution.

Detail Online, founded in 2015 by Peter Clerborn, Leo Dratwa and Joakim Gavelin, developed a software solution that automatically creates reports about a merchant online presence and its competition landscape.

Both Detail Online and InRiver have Industrifonden as common investor. Detail Online secured $3.3M back in 2018.

InRiver is more funded, and has raised almost $60 million in total from investors including Lugard Road Capital, Verdane, Zobito, and RoosGruppen.