Aptos to acquire leader in price optimisation Revionics

10 Aug '20

2 min read

Pic: Aptos

Aptos, a recognised market leader in online-based retail technology solutions, has announced that it has entered into a definitive agreement to acquire Revionics. Revionics is the leading provider of science-based pricing, promotion and competitive insight for innovative global retailers. The acquisition is expected to close in September 2020.

Featuring advanced AI and machine learning capabilities, Revionics’ cloud-based price optimisation solutions will serve as a powerful and natural extension to Aptos’ merchandise lifecycle management suite, allowing retailers to optimise every aspect of the product lifecycle, according to a press release by Aptos.

Headquartered in Austin, Texas, and with offices in key cities across the US, Europe, and Australia, Revionics helps retailers gain a competitive edge by managing and optimising strategies for omni-channel pricing, promotions and markdowns. Revionics’ customer base includes many of the world’s top retailers including Tier 1 brands across grocery, discount, drug, convenience, sporting goods, general merchandise, hardware and specialty retail, such as Ahold Delhaize, DICK’S Sporting Goods, Douglas Holding AG, Family Dollar, Home Depot Mexico, Leroy Merlin Brasil, Love’s Travel Stops, Rimi Baltic and Tractor Supply.

“Recognised as a leader in the retail price optimisation space, Revionics is known for delivering exceptional value, application speed and responsiveness, and successful implementations of its AI-powered price optimisation solutions. At the scale, speed and complexity of retail today, price optimisation is now a cornerstone of successful retailing. Aptos’ acquisition of Revionics is a significant step forward in augmenting its merchandise lifecycle management suite with pricing acumen and agility,” Leslie Hand, GVP, IDC retail and financial insights said.

“Retailers across all segments are experiencing heightened pressure to deliver greater merchandise variety, personalised promotions and experiences, and prices that resonate with shoppers. The only way to meet customers’ expectations while maximising revenue, margin growth and customer lifetime value is to integrate all stages of the merchandise planning cycle, including price optimisation. Revionics’ proven price optimisation solutions are a strong complement to Aptos’ end-to-end retail planning platform. We have tremendous optimism about what the combination of our organisations will mean for our customers and their ability to win in the marketplace” Noel Goggin, Aptos CEO and culture leader said.

Fibre2Fashion News Desk (GK)

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