- With this acquisition, Aptos’ and Revionics’ blended customer base will include 1,000-plus retail brands in 65 countries
- It would help retailers gain competitive edge by making and optimising strategies for omnichannel pricing, promotions and markdowns
- It’s cloud-based price optimisation solution would serve as a powerful extension to Aptos’ Merchandise Lifecycle Management suite
Renowned market leader in retail technology, Aptos has announced that it is looking forward to enter into a definitive agreement to acquire Revionics. Revionics is a leading provider of science-based pricing, promotion and competitive insight for innovative global retailers. The acquisition is expected to close in September 2020
Revionics cloud based system features advance AI and machine learning capabilities. It’s cloud-based price optimisation solution would serve as a powerful and natural extension to Aptos’ Merchandise Lifecycle Management suite. This would allow retailers to optimise every aspect of the product lifecycle.
Leslie Hand, GVP, IDC Retail and Financial Insights said “Recognized as a leader in the retail price optimization space, Revionics is known for delivering exceptional value, application speed and responsiveness, and successful implementations of its AI-powered price optimization solutions.”
She also added that price optimization is a cornerstone of successful retailing at the scale, speed and complexity of retail today. This acquisition is a significant step forward in augmenting its Merchandise Lifecycle Management suite with pricing acumen and agility.
Solutions for prize optimisation
As claimed by the company, Revionics’ customer base includes many of the world’s top retailers including Tier 1 brands across grocery, discount, drug, convenience, sporting goos, general merchandise, hardware and speciality retail, such as Ahold Delhaize, Douglas Holding AG, Family Dollar, Home Depot Mexico, Leroy Merlin Brasil, Love’s Travel Stops, Rimi Baltic, etc.
Noel Goggin, Aptos CEO culture leader said “Retailers across all segments are experiencing heightened pressure to deliver greater merchandise variety, personalized promotions and experiences, and prices that resonate with shoppers”.
He also added that the only way to meet customers’ expectation while maximising revenue, margin growth and customer lifetime value is to integrate all stages of merchandise planning cycle, including price optimisation.
Revionics’ proven price optimization solutions are a strong compliment to Aptos’ end-to-end retail planning platform. Goggin also added that they have tremendous optimism about what the combination of their organisations would mean for their customers concerning ability to win in the marketplace.
Ideal time for company’s growth trajectory
With this acquisition, Aptos’ and Revionics’ blended customer base will include 1,000-plus retail brands in 65 countries. The acquisition comes at an ideal time in he company’s growth trajectory.
“In this year of uncertainty, retailers need to move quickly and have the confidence to try innovative tactics, including pricing strategies. Because of this, we are seeing a record demand for our platform,” said Hafner. Revionics’ advanced AI and analytics unleashes retailers’ data to deliver immediate as well as long-term pricing recommendations to drive margin, profit and growth.
End-to-end planning platform
The company claims to provide a complete end-to-end planning platform by joining forces with Aptos. Hafber looks forward to bringing two industry leading platforms together that will help retailers around the world navigate these challenging times.
Revionics helps retailers gain competitive edge by making and optimising strategies for omnichannel pricing, promotions and markdowns. The company is headquartered in Austin, Texas and has offices in key cities across the U.S., Europe and Australia.