Aptos, a recognised market leader in retail technology solutions, today announced that it has entered into a definitive agreement to acquire Revionics, 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.
“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,” said Leslie Hand, GVP, IDC Retail and Financial Insights.
“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.”
Headquartered in Austin, Texas, and with offices in key cities across the U.S., Europe and Australia, Revionics helps retailers gain a competitive edge by managing and optimising strategies for omnichannel 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 Co.
“Retailers across all segments are experiencing heightened pressure to deliver greater merchandise variety, personalised promotions and experiences, and prices that resonate with shoppers,” said Noel Goggin, Aptos CEO and culture leader.
“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,” Goggin concluded.
Pending the acquisition’s close, Aptos’ and Revionics’ blended customer base will include 1,000-plus retail brands in 65 countries. According to Revionics Chairman and CEO Marc Hafner, the acquisition comes at an ideal time in the company’s growth trajectory.
“Revionics’ advanced AI and analytics unleashes retailers’ data to deliver immediate as well as long-term pricing recommendations to drive margin, profit and growth,” Hafner said. “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.
“By joining forces with Aptos, we will provide retailers a complete end-to-end planning platform. I am excited to be part of bringing two industry-leading platforms together that will help retailers around the world navigate these challenging times,” Hafner added.
Aptos’ planned acquisition of Revionics follows its recent announcement of its completed acquisition by affiliates of Goldman Sachs Merchant Banking Division. The new strategic ownership change paves the way for accelerated investments in product innovation and continued focus on global market expansion.