Pricefx Acquires AI Pricing Software Startup Brennus Analytics
7.5.2020 14:00:00 EEST | Business Wire | Press release
Pricefx, the global leader in native cloud pricing software, today announced it has acquired Brennus Analytics, an AI pricing software start-up based in France. Brennus uses a modular, proprietary AI technology to provide unique optimization capabilities highly applicable to the challenges of complex B2B environments. The transaction will bring state-of-art technology and a team of exceptionally talented AI and data science professionals to accelerate Pricefx’s AI capabilities in its price optimization software.
“In today’s fast-moving business climate, being able to use pricing as a lever to achieve revenue and profit goals is more important than ever,” said Marcin Cichon, CEO and co-founder at Pricefx. “The AI technology and deep bench of talent we are bringing in from Brennus will enable us to deliver strategic product enhancements that will allow Pricefx to set a new standard for price optimization. With Brennus, Pricefx is building on the impressive momentum we have already created in serving our customers with fast, flexible and friendly solutions for the past 9 years. Our goals and vision remain unchanged: using our Passion for Pricing to deliver the best pricing platform on the planet.”
Combining Brennus’ innovations in AI for pricing with Pricefx’s ability to productize and commercialize at scale brings to market a solution greater than the sum of its parts, enabling the company to better meet customers’ needs in a rapidly changing business climate. Additionally, Brennus’ location will enable Pricefx to expand its presence in France and better support existing customers in the region.
Brennus’ pricing optimization software is based on AI technology called “Adaptive Multi Agent Systems” (AMAS). AMAS technology is predictive, prescriptive, transparent, fast and flexible. Devised in the 1990s by the Toulouse Research Institute in Computer Science (IRIT), AMAS is based on self-organizing autonomous agent networks, comparable to a living organism. The self-adapting system is particularly well-suited for large scale optimization and continuous learning.
“Based on our unique AI technology, we have developed the most efficient price optimization solution on the market, but it can only reach its full potential when backed by a competitive pricing solution. By joining Pricefx, we’ve teamed up with the best one,” said Florent Dotto, CTO for Brennus Analytics. “Our technology is well suited to mass optimization, and unlike other AI technologies, such as machine learning, it is transparent, fast, requires no training time and can be reconfigured with new parameters on the go. Computation is executed almost in real time, allowing users to test any pricing optimization scenario on the fly.”
Brennus Analytics was founded in 2015 by Gregoire Saint-Guily, Florent Dotto, Sylvain Peyruqueou and Sylvain Rougemaille.
Financial terms of the deal were not disclosed. This is the first strategic acquisition that Pricefx has executed since closing its series B round of venture financing in November 2019.
About Pricefx
Established in 2011 in Germany, Pricefx is the global leader in SaaS pricing software, offering a comprehensive suite of solutions that are fast to implement, flexible to configure and customize, and friendly to learn and use. Pricefx delivers a complete price optimization and management platform based on native cloud architecture, providing industry leading time to value and total cost of ownership advantages to customers. Their innovative solution works for both B2B and B2C enterprises of any size, in any industry, in any part of the world. Pricefx’s business model is entirely based on the satisfaction and loyalty of its customers. Today, Pricefx delivers Passion for Pricing to more than 100 customers in more than 37 countries worldwide. For more information, please visit www.pricefx.com.
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