Kinaxis has closed its acquisition of Toronto-based Rubikloud, a provider of artificial intelligence solutions that automate supply chain prescriptive analytics and decision-making for the retail and consumer packaged goods sectors. The previously announced deal was valued at US$60 million. Rubikloud was backed by Access Industries, First Ascent Ventures, Horizons Ventures, Intel Capital, Inovia Capital, MaRS Investment Accelerator Fund and other investors.
OTTAWA, ON, July 2, 2020 /CNW/ – Kinaxis® Inc. (TSX: KXS), the authority in driving agility for fast, confident decision-making in an unpredictable world, today announced that it has closed the previously announced acquisition of Rubikloud, a disruptive, emerging provider of AI solutions that automate supply chain prescriptive analytics and decision-making in the retail and consumer packaged goods (CPG) industries.
“We are delighted to have finalized the acquisition and are excited to welcome Kerry Liu and the Rubikloud team along with its customers and partners into the Kinaxis ecosystem,” said John Sicard, President and CEO, Kinaxis. “Rubikloud’s advanced AI-based demand forecasting capabilities will immediately enhance our offering to CPG customers and prospects, and will ultimately be offered to other industries we serve today. The acquisition also provides Kinaxis an entry point into the enterprise retail industry and brings a group of people who will complement our already-outstanding team to leverage AI and machine learning capabilities across the Kinaxis RapidResponse® platform.”
About Kinaxis Inc.
Everyday volatility and uncertainty demand quick action. Kinaxis® delivers the agility to make fast, confident decisions across integrated business planning and the digital supply chain. People can plan better, live better and change the world. Trusted by innovative brands, we combine human intelligence with AI and concurrent planning to help companies plan for any future, monitor risks and opportunities and respond at the pace of change. Powered by an extensible, cloud-based platform, Kinaxis delivers industry-proven applications so everyone can know sooner, act faster and remove waste. For more Kinaxis news, visit Kinaxis.com or follow us on LinkedIn or Twitter.