ATLANTA, Sept. 9, 2020 /PRNewswire/ — Aptos, a recognized market leader in retail technology solutions, announced today that it has completed its acquisition of Revionics, the leading provider of science-based pricing, promotion and competitive insight for innovative retailers. Revionics will now be known as Revionics, an Aptos Company.
The acquisition, which was first announced on Aug. 5, adds Revionics' AI-powered price optimization solutions to Aptos' Merchandise Lifecycle Management suite. By bringing these product sets together, retailers can integrate all stages of merchandise planning to maximize value throughout the product lifecycle.
“COVID-19 has ushered in a new era of retailing — an era in which the ability to deliver optimal prices and offers, when and where it matters most, can make or break a retailer’s ability to remain relevant with shoppers,” said Steve Towe, Aptos President and Chief Operating Officer, who will lead the combined company.
“With Aptos' end-to-end platform enhanced with Revionics' Lifecycle Pricing SaaS solutions, we are uniquely positioned to help retailers better understand and predict shifts in consumer demand to optimize their product design, merchandising, omnichannel and pricing strategies. We are delighted to welcome Revionics' colleagues and customers into the Aptos family,” Towe said.
At the acquisition’s close, the customer base totals 1,000-plus retail brands in 65 countries, including Ahold Delhaize, Carter’s, Cole Haan, DICK’S Sporting Goods, Family Dollar, Fast Fish, Home Depot Mexico, Love’s Travel Stops, Michael Kors, MINISO, Pets At Home, The Vitamin Shoppe, Tractor Supply Co., Urban Outfitters and WH Smith.
To serve this impressive customer roster, the company has approximately 1,450 retail specialist colleagues in key cities across North America, Europe and the Asia-Pacific region.
“We have all seen the importance of advancing retailers' digital transformations and why the future is bright for companies that have robust and flexible business models,” said Lou D’Ambrosio, Senior Strategic Advisor to Goldman Sachs and Executive Chairman of Aptos.
“By adopting an integrated, digital-first approach — one that relies on AI and advanced analytics — retailers can provide shoppers with more personalized experiences across channels, outperform the competition and be more responsive to market dynamics,” said D’Ambrosio. “This acquisition is a big win for the acceleration of unified retailing — and for the respective organizations.”
“Revionics' mission has always been to deliver unmatched solutions and undeniable results for retailers around the world,” said Marc Hafner, who served as Revionics' CEO since 2010.
“I am confident that this mission will be amplified as part of the Aptos business, with Revionics' customers benefiting from the global-scale, end-to-end planning platform, next-gen innovation investments and deep retail domain expertise that Aptos is known for,” Hafner said.
Aptos, a portfolio company of the Merchant Banking Division (MBD) of The Goldman Sachs Group, Inc. and its affiliates, was represented by Fried Frank throughout the transaction. Revionics was supported in its sale to Aptos by Sidley.
About Aptos “Engaging Customers Differently”
In an era of virtually limitless choice, sustained competitive advantage only comes to retailers who engage customers differently — by truly understanding who they are, what they want and why they buy. At Aptos, we too believe that Engaging Customers Differently™ is critical to our success. We are committed to a deep understanding of each of our clients, to fulfilling their needs with the retail industry’s most comprehensive omnichannel solutions, and to fostering long-term relationships built on tangible value and trust. More than 1,000 retail brands rely upon our Singular Commerce™ platform to deliver every shopper a personalized, empowered and seamless experience…no matter when, where or how they shop. Learn more
About Revionics, an Aptos Company
Revionics, an Aptos Company, is a global provider of science-based pricing, promotion and competitive insight for innovative retailers. Revionics helps retailers around the world gain a competitive edge by managing and optimizing their pricing, promotions, markdowns and advanced analytics. Created by retail experts, Revionics' cloud-based SaaS solutions deliver amazing year-over-year ROI with an attractive total cost of ownership.
Aptos, the Aptos logo, “Engaging Customers Differently” and “Singular Commerce” are trademarks of Aptos. All other trademarks referenced are the property of their respective owners.