Kinaxis to Acquire Rubikloud

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Kinaxis to Acquire Rubikloud

06/17/2020

Kinaxis has signed an agreement to acquire AI solutions provider Rubikloud in a $60 million all-cash deal that’s expected to close within 60 days.

Rubikloud’s AI solutions are geared toward consumer goods’ brands and retailers seeking automated supply chain prescriptive analytics and decision making. Offerings include demand forecasting and automation to manage and optimize trade promotions, pricing and assortment.

Solutions also help users leverage disparate data sources to improve forecast accuracy, site-level allocations, inventory availability and promotion plans by allowing them to run boundless simulations in real time.

See also: Unlocking AI’s Potential in Making Data-Informed Pricing Decisions

Kinaxis will enhance RapidResponse's demand planning capabilities with the Rubikloud offerings. It foresees initial opportunities for its CPG customers and will later extend to life sciences. The acquisition will also support Kinaxis’ goals within the enterprise retail industry.

John Sicard, Kinaxis president and CEO, said the move reflects the growing importance of artificial intelligence and machine learning to power intelligent automation and augment human decision-making, thereby providing better customer service, removing waste and increasing resiliency.

Kinaxis will add about 80 people to its company as a result of the deal.

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Consumer goods companies can build a strong artificial intelligence foundation by following these three key requirements.