Sears acquires Israeli start-up Delver

Hoffman Estates, Ill. Sears Holdings Corp. has acquired Israeli start-up Delver, a social search engine that was on the cusp of shutting down after it failed to raise an additional $6 million in capital.

Delver CEO Liad Agmon will move to Chicago where he will hold a title of VP at Sears Holdings, according to Israeli business site, Globes.

Delver's employees will continue to work in Israel and the company will operate as a Sears' development center. Delver will continue development of its search engine, which improves the relevancy of Web search results by prioritizing results based upon the searcher's social network, as well as new products, the report said.