Consumer Edge Buys to Boost Transaction Data Coverage

In New York, alternative consumer data provider Consumer Edge has announced the acquisition of Earnest Analytics, which collects and analyses real-time transaction and other data on consumer and healthcare markets.

Alternative data is a term used in the financial sector to describe non-traditional intelligence sources of potential use to analysts and investors, for example survey and other trends information as opposed to corporate financials and economic indicators. Consumer Edge was founded in 2009 and provides intelligence based on shopper transactions from sources including debit and credit card spend, for use by corporate and financial clients. Earnest Analytics, established three years later, provides actionable insights for institutional investors, companies, consultants and government agencies for revenue prediction, competitor benchmarking and customer tracking - also based on transaction data.

Terms of the deal, which is expected to close before the end of the month, were not disclosed. Consumer Edge says the buy is in line with its strategy to expand into new geographies, access new data types and deepen its technology capabilities. CEO and founder Bill Pecoriello (pictured) says 'This is a transformative moment for Consumer Edge... Earnest Analytics has earned a stellar reputation for transforming complex data into clear, strategic insights. Their outstanding team, powerful technology platform and deep expertise in healthcare and transaction data perfectly complement Consumer Edge's strengths.' Kevin Carson, founder of Earnest Analytics comments: 'We couldn't be more energized about this next chapter. Together with Consumer Edge, we'll unlock even greater value for our clients and take our shared vision of intelligent, accessible and transformative data to the next level.'

Web site: www.consumeredge.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.