Toronto, Ontario, Canada – Askuity, provider of a sales enablement and retail intelligence platform, has been acquired by The Home Depot. Prior to the acquisition, Askuity worked extensively with The Home Depot’s largest vendors and established itself as a leader in the home improvement category, enabling improved collaboration, execution, and decision-making along the retail supply chain. The acquisition allows The Home Depot to bring the solution in-house and leverage the platform solely for brands affiliated with or represented by The Home Depot.
“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. Based on our success, we developed a relationship with The Home Depot which led to a partnership and the ultimately to the acquisition,” says Eric Green, founder and CEO of Askuity. “The acquisition will enable Askuity to accelerate the product roadmap and scale the team to drive value for all of The Home Depot’s vendors.”
Askuity, Inc. provides a sales enablement and retail intelligence platform that consolidates, cleanses, and analyzes consumption data, including point of sale and inventory data, to enable retail supply chain collaboration and execution. Askuity’s platform helps suppliers by providing a holistic view of sales and inventory data across all retail channels so they can optimize merchandise assortment, shelf placement, and SKU-level performance. Askuity has over 80 customers mainly in do-it-yourself, beauty, and home improvement categories. Select customers include Anastasia Beverly Hills, Robert Bosch, Velcro Companies, Philips Lighting, Dyson, and Drybar. The company was founded in 2012 and based in Toronto.
About The Home Depot
The Home Depot, Inc. is a $100B home improvement retailer that sells various building materials, home improvement products, lawn and garden products, décor products, as well as provides installation, home maintenance, and professional service programs to do-it-yourself and professional customers. The company operates 2,284 stores throughout North and Central America and employs over 400,000 associates. The Home Depot was founded in 1978 and is headquartered in Atlanta, Georgia.
Technology M&A Practice (Formerly Pagemill Partners), a division of Duff & Phelps, served as exclusive financial advisor to Askuity.