The cloud pricing startup Pricefx, based in Pfaffenhofen near Munich, has acquired Brennus Analytics. The Toulouse-based startup has developed AI-based pricing software that now complements Pricefx's offering. Pricefx CFO Tom Fencl had already hinted at possible acquisitions by his company in December.
Only in December 2019, Pricefx secured investments totaling 48 million eurosAt the time, CFO Tom Fencl stated that the company was beginning to consider possible acquisitions of other companies, for example in the areas of optimization and artificial intelligence. The acquisition of Brennus Analytics now appears to be the first result of these considerations.
The now acquired startup Brennus Analytics has developed price optimization software based on the AI technology "Adaptive Multi Agent Systems" (AMAS). Developed in the 1990s by the "Institut de Recherche en Informatique de Toulouse" (IRIT), AMAS technology is considered predictive, prescriptive, transparent, fast, and flexible. It is based on self-organizing, autonomous agent networks, which are particularly used for the optimization of complex scenarios and continuous learning.
Pricefx: “Setting a new standard for price optimization”
Marcin Cichon, CEO and co-founder of Pricefx, explains:
"Thanks to the AI technology and deep talent pool we're acquiring from Brennus, we can develop strategic product extensions and set a new standard for price optimization. With Brennus, we're building on the impressive momentum Pricefx has already created over the past nine years to provide our customers with fast, flexible, and user-friendly solutions. Our goals and vision remain unchanged: We're leveraging our passion for pricing to create the best pricing platform in the world."
"Based on our unique AI technology, we have developed the most efficient price optimization solution on the market; however, it can only reach its full potential when supported by a competitive pricing solution. By joining forces with Pricefx, we have the best possible partner at our side,"
explained Florent Dotto, CTO of Brennus Analytics. And further:
"Our technology is ideally suited for mass optimization, and unlike other AI technologies such as machine learning, it is transparent, fast, requires no training, and can be reconfigured with changed parameters on the fly. The calculation is performed in near real time, allowing users to test any price optimization scenario directly."
The financial terms of the transaction were not disclosed.
