Social Search Delver Acquired by Sears

Former Techcrunch editor Ouriel Ohayon is reporting via The Globes that social search Delver has been acquired by Sears. Yes, the powertools and "sponsored conversations" company Sears. The acquisition price for the Israeli-based startup was not disclosed. Ouriel notes that the price is probably not that high as the company was running out of cash.

Delver raised $4 million in a Series A round. About a month ago the company announced that they would either sell or close the company as they were unable to raise another round of funding the tune of $6-8 million.

The Globes notes, "Delver co-founder and CEO Liad Agmon will move to the US and become a VP at Sears. Delver’s employees will continue to work in Israel and the company will operate as a Sears’ development center."