Aptos, a retail tech provider, has inked an agreement to acquire Revionics, a leading provider of science-based pricing, promotion and competitive insight for innovative global retailers.
The acquisition is supposed to close in September 2020.
Revionics price optimisation tool will be integrated in the Aptos merchandise lifecycle management suite, which would allow the users to optimise every aspect of product lifecycle.
The tool is a cloud-based solution integrated with advanced technologies like AI and machine learning.
The US-based firm helps the customers manage and optimise the omnichannel pricing, promotion and markdown capabilities giving them a competitive advantage over the others.
Importantly, it’s made installation with some leading names in different sectors across grocery, discount, drugs, convenience, sporting goods, general merchandise, hardware and specialty retail.
“Aptos’ acquisition of Revionics is a significant step forward in augmenting its merchandise lifecycle management suite with pricing acumen and agility,” said Leslie Hand, GVP, IDC retail and financial insights.
“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.