Why Aptos Is Buying AI-Powered Price Optimization Company Revionics

By Dan Anderson ● August 6, 2020
  • Aptos — a leader in retail technology solutions — announced recently that it has entered into a definitive agreement to buy Revionics. These are the details.

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

Revionics’ cloud-based price optimization solutions — which features advanced AI and machine learning capabilities — will serve as a powerful and natural extension to Aptos’ Merchandise Lifecycle Management suite, allowing retailers to optimize every aspect of the product lifecycle.

Based 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 optimizing strategies for omnichannel pricing, promotions, and markdowns.

And 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 like 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.

Pending the acquisition’s close, Aptos’ and Revionics’ blended customer base will include 1,000+ retail brands in 65 countries. And according to Revionics Chairman and CEO Marc Hafner, the acquisition comes at an ideal time in the company’s growth trajectory.

Aptos’ planned acquisition of Revionics follows its recent announcement of its completed acquisition by affiliates of Goldman Sachs Merchant Banking Division. This new strategic ownership change paves the way for accelerated investments in product innovation and continued focus on global market expansion.

KEY QUOTES:

“Retailers across all segments are experiencing heightened pressure to deliver greater merchandise variety, personalized promotions and experiences, and prices that resonate with shoppers. The only way to meet customers’ expectations while maximizing revenue, margin growth and customer lifetime value is to integrate all stages of the merchandise planning cycle, including price optimization.”

“Revionics’ proven price optimization solutions are a strong complement to Aptos’ end-to-end retail planning platform. We have tremendous optimism about what the combination of our organizations will mean for our customers and their ability to win in the marketplace.”

— Noel Goggin, Aptos CEO and culture leader.

“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. At the scale, speed and complexity of retail today, price optimization 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

“Revionics’ advanced AI and analytics unleashes retailers’ data to deliver immediate as well as long-term pricing recommendations to drive margin, profit and growth. 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.”

— Revionics Chairman and CEO Marc Hafner