ATG pays $10M for Seattle company

Art Technology Group Inc. plans to acquire Seattle-based CleverSet Inc. for $10 million, pending the approval of CleverSet stockholders.

CleverSet develops automated personalization engines that offer retail website visitors recommendations and information for purchases. The technology has been shown to increase e-commerce revenue by improving conversion rates and order sizes, officials said.

The deal is expected to close during the first quarter, company officials said.

CleverSet, which was founded in 2000, also operates an office in Corvallis, Ore.

Cambridge-based ATG, founded in 1991, designs websites for retailers. During 2006, the company posted a $9.7 million net income on revenue of $103.2 million.

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