Pricing Specialists Optimus Price and Athena Merge

In Barcelona, Spain, pricing automation and sales forecasting specialist Optimus Price has merged with price and competitor monitoring business Athena under the former company's brand name. Terms of the deal have not been disclosed.

Optimus Price uses artificial intelligence to analyse sales data, competitors, and suppliers, to automate prices for eCommerce businesses, or as an alert system to discover items with incorrect or out-of-market prices. Athena offers technology to help retail companies with pricing and customer acquisition, as well as to optimize their advertising and promotion returns.

Through the deal, the combined firm will offer an AI-driven solution unifying pricing, demand forecasting, stock management and promotional processes for online and offline retailers. In addition, the business says the merger will enable companies to understand their clients' purchasing behaviour and pricing strategies, while increasing efficiencies relating to stock management and procurement processes.

Xavier Tous, founder and CEO of Athena will join Optimus Price as General Manager, with Athena's team being integrated into the Optimus Price structure, while Optimus Price founder Carlos Fenollosa (pictured) will continue in his CEO role. Fenollosa says that the deal will enable the combined business to provide tools to aid pricing and stock management decisions in an 'even more accurate manner'. Tous adds: 'The combination of our technologies, existing commercial agreements and innovative products bring the right mix to solidify our positioning within the space.'

Web site: www.optimusprice.ai .