Software developing firm Zebra Technologies announces its plans to acquire artificial intelligence company Antuit.ai through a press release. Antuit.ai’s unique Software as a service (SaaS) platform enables businesses to analyze and understand the demand of their products across various markets.
With this acquisition, Zebra Technologies wants to integrate its platform with Antuit.ai’s SaaS solution to help its customers effectively plan and execute consumer product development for higher revenue generation.
The artificial intelligence technology developed by Antuit.ai enables enterprises to accurately predict and analyze product demand, shelf level, store level and optimize the pricing of products.
Chief Executive Officer of Zebra Technologies, Anders Gustafsson, said, “Through its synergies with our retail store execution portfolio, the acquisition of antuit.ai will further drive our ability to bring the power of AI to our customers and meet the demands of today’s consumer. It will also enable us to offer our customers in the CPG industry an analytics, AI, and automation solution that supports more efficient planning and operations with greater visibility across the supply chain.”
He further added that they are incredibly excited to work with the team of Antuit.ai to benefit their customers. Texas-based Antuit.ai was founded by Arijit Sengupta, Kumar Ritesh, and Neeraj Bhargava in 2013. The company has raised a total funding of $60 million in its series A funding round from investors like Goldman Sachs and Zodius Capital.
co-CEO of Antuit.ai, Yogesh Kulkarni, said, “Our AI solutions will influence planning and bridge the gap to execution, enhancing Zebra’s retail and CPG solutions that address associate productivity and inventory management.”
The acquisition deal is expected to close by the end of this year. The company officials have not provided any information regarding the valuation of the contract. Jenner & Block LLP and Goodwin Proctor LLP are serving as the legal consultant for Zebra Technologies and Antuit.ai, respectively.