About six months ago the martech platform Kenshoo announced it had acquired the data analytics company Signals Analytics. The deal was designed to help Kenshoo stay a step ahead as the pandemic shaved years off of the consumer eCommerce adoption curve. This week that acquisition was further sealed with the combined companies announcing a new name and brand that signifies their new combined identity. Goodbye Kenshoo/Signals Analytics. And hello Skai. Here is how Skai positioned the rationale for the newly integrated companies.
Sooner than anticipated, E-commerce and Direct-to-Consumer (D2C) business models have become the primary storefront for brand and consumer interaction, with estimates of five years of progress having occurred in just two quarters of 2020—demonstrating a wave of change that presents both opportunity to capitalize and risk for those unprepared. Skai maintains that success depends on accuracy, speed and agility in meeting consumer needs.
So what does Skai mean? It’s actually a sort of combination of the two companies’ names. Here is how the company describes it in the rebranding announcement.
The Skai brand name pays homage to the company’s roots, merging the Signals Analytics and Kenshoo names with a reference to the combined vision focused on providing actionable intelligence to help clients navigate the next chapter where digital sophistication is key.
Mashups and Fresh Starts
It is very common for companies to go through rebrandings post-merger to reflect the new combined identity. Sometimes these are unoriginal mashups. J.P. Morgan Chase is a good example of this.
While at other times mergers lead to a complete rebranding. Love it or hate it, Verizon emerged as a very recognizable brand following the 2000 merger of GTE and Bell Atlantic.
New Brand, New Mission
So how is Skai different from its predecessor companies?
When then-Kenshoo acquired then-Signals Analytics, the world was still knee-deep in the pandemic. And as we all know, everyone from major brands to small shops was moving as much of their trade as possible online. Now that the pandemic is receding, no one really expects eCommerce adoption to slow.
Kenshoo knew it needed tools to add more value to its clients as this rapid shift to eCommerce occurred. Enter Signals Analytics. The company takes in external data and applies AI and machine learning to create actionable insights for brand decision-makers.
The newly renamed company seems to be staking out ground as an AI-driven market intelligence firm for brands. This may help set Skai apart from other martech platforms.
So here is a little more color from the announcement.
Under Skai, an AI-powered suite of data analytics products including market intelligence, omnichannel media activation, and testing and measurement tools all share a uniquely comprehensive data foundation that works together to provide true incremental lift. As brands face a future without cookies or tracking IDs, Skai’s data-intensive approach enables them to intelligently navigate changing privacy regulations while rapidly bringing products to market.