Retail technology solution provider Aptos has entered into a definitive agreement to acquire Revionics, a provider of cloud-based price optimization solutions. The purchase price for the acquisition, expected to close in September 2020, was not disclosed.
“At the scale, speed and complexity of retail today, price optimization is now a cornerstone of successful retailing,” said Leslie Hand, GVP, IDC Retail and Financial Insights in a statement. “Aptos’ acquisition of Revionics is a significant step forward in augmenting its Merchandise Lifecycle Management suite with pricing acumen and agility.”
Revionics’ current customer base includes many of the top retailers across the globe, including Ahold Delhaize, DICK’S Sporting Goods, Douglas Holding AG, Family Dollar, Home Depot Mexico, Leroy Merlin Brasil and Tractor Supply Co. The combined customer base of Aptos and Revionics would include more than 1,000 retail brands in 65 countries.
“Retailers across all segments are experiencing heightened pressure to deliver greater merchandise variety, personalized promotions and experiences, and prices that resonate with shoppers,” said Noel Goggin, Aptos CEO and culture leader in a statement. “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.”
“In this year of uncertainty, retailers need to move quickly and have the confidence to try innovative tactics, including pricing strategies,” said Revionics Chairman and CEO Marc Hafner in a statement. “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.”
In March, Aptos was acquired by affiliates of the Goldman Sachs Merchant Banking Division.