German cloud pricing software Pricefx has acquired Brennus Analytics, an AI pricing software startup based in France. Both Brennus’ technology and talent will join Pricefx, significantly boosting the German company’s AI and data science capabilities. Financial terms of the deal were not disclosed.
“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,” said Marcin Cichon, CEO and co-founder at Pricefx.
Brennus’ software is based on AI technology called “Adaptive Multi Agent Systems” (AMAS), which Toulouse Research Institute in Computer Science developed in the 1990s. AMAS is based on self-organising autonomous agent networks, similar to a living organism.
“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,” explained Florent Dotto, CTO of Brennus Analytics. “Computation is executed almost in real time, allowing users to test any pricing optimization scenario on the fly.”
From its base in Bavaria, Pricefx will expand its presence in the French market. The deal is the first strategic acquisition since the German company closed a €48 million Series B round last November, when it outlined a growth strategy that included acquisitions and US expansion.