YORK based product information management firm Agility Multichannel has been acquired by a global player in the data management space.

US headquartered Magnitude Software announced today it is taking over the Monks Cross business.

Chris Ney, chairman and chief executive of Magnitude Software, based in Texas, said: “Our business was created to drive the end-to-end process of delivering insights to business leaders via access, harmonisation and analytics to support business decision-making, and reduce operational cost and risk.

“Today, we expand our capabilities in a growing and relatively under-served market with an agile PIM solution for product content management and syndication – without which organisations cannot efficiently deliver the content necessary for integrating into leading digital commerce solutions.”

Richard Hunt, chief executive of Agility Multichannel, added: “Becoming part of a larger enterprise with strong organisational execution capabilities at scale, and expertise within adjacent markets, accelerates our ability to capitalise on the push for digital transformation, which we see as an imperative for companies seeking to improve.”

Martin Frost, corporate finance partner at York law firm Lupton Fawcett advised Agility on the sale to Magnitude Software.