Nike [FC Barcelona branded] jerseys image: Nike

Nike has announced that it has acquired Celect, a Boston-based data analytics startup that had raised $30 million in funding, according to Crunchbase data. Financial terms of the acquisition are not disclosed. Celect, founded by MIT professors Vivek Farias and Devavrat Shah, launched in 2015 [but was founded two years earlier] with $5 million in Series A funding. August Capital led that round, with participation from Activant Capital Group.

Celect applies machine learning techniques to help retailers understand their customers’ buying patterns. Using such patterns, retailers can then work-around it to help increase sales. Celect’s technology is built on machine learning tech from MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL). The Boston-based startup has courted several big-name customers, to name some: Aldo, Neiman Marcus, Nordstrom, Puma, Ralph Lauren and Urban Outfitters.

Nike is getting some good intellectual property portfolio with its acquisition. Celect’s team will be integrated into the sportswear brand’s Global Operations Team. The Boston-based startup’s co-founders will consult with Nike on an ongoing basis, but will continue as tenured professors at the Massachusetts Institute of Technology (MIT).

“With the acquisition of Celect, Nike greatly accelerates our digital advantage by adding a platform developed by world-class data scientists.” Nike COO Eric Sprunk said in a statement. “As demand for our product grows, we must be insight-driven, data optimized and hyper-focused on consumer behavior. This is how we serve consumers more personally at scale.” He said.

“We’re thrilled to be joining the Nike team, adding our unique and innovative capabilities to the data and analytics foundation they’ve been building over the years,” Celect CEO John Andrews added.

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