Centric Software®, the foremost leader in Product Lifecycle Management (PLM), just announced the acquisition of aifora™, a cutting-edge AI-powered solution for optimizing prices and inventory. Centric Software offers a range of pioneering enterprise solutions for planning, designing, developing, sourcing, pricing, and selling various products, spanning from apparel, fashion, and home goods to footwear, sporting equipment, consumer electronics, cosmetics, food & beverage, and luxury items. These solutions are designed to drive strategic and operational digital transformation initiatives.
Trustventure advised aifora’s Management Team on the preparation and execution of the Exit process with active support in Due Diligence, Q&A and SPA-Negotiation within the transaction. As an integral part of the deal team, we orchestrated the comprehensive due diligence process that scrutinized financial records, legal documents, and operational structures, and managed the exchange between Aifora and Centric Software’s buy-side Dealteam, aggregating information and analyses from different stakeholders and ensuring a smooth and efficient process altogether.
Established in 2018 in Düsseldorf, Germany, by Thomas Jesewski and David Krings, aifora stands out as a top-tier predictive pricing retail automation platform, leveraging AI to empower brands and retailers in achieving consistent growth and enhanced profitability. This is achieved through data-centric approaches to pricing, inventory management, and allocation practices.
Benefits of the acquisition
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Aligned with Centric Software, aifora’s solutions are rooted in extensive industry expertise and best practices. It seamlessly complements Centric’s suite of offerings, which includes the flagship Centric PLMTM, Centric PlanningTM, Centric PricingTM, and the innovative visual collaboration platform, Centric Visual BoardsTM. By integrating aifora into its existing solutions, Centric Software is poised to deliver significant enhancements in revenue, product margins, and inventory management capabilities for brands and retailers.
“Centric Software and aifora both deeply understand the needs of brands and retailers, and we highly attuned to the challenges faced by the industry,” says Thomas Jesewski, CEO and Co-Founder of aifora. “With Centric solutions and aifora combined, brands and retailers will have access to an unprecedented suite of powerful tools to make informed decisions, leverage actionable insights and improve profitability.”
“We would like to warmly welcome aifora to the Centric family as we combine forces to meet the needs of consumer goods companies,“ says Chris Groves, CEO of Centric Software. “Together, we will drive innovation and continue to lead the way in delivering cutting-edge solutions. aifora and Centric share the same innovation vision and the same customer-focused culture. We look forward to innovating together and integrating our solutions to continue to delight and add exceptional value to our customers.”