CPE News (7/2/2020) – Kinaxis Inc. (TSX: KXS) has closed its previously announced acquisition of Rubikloud Technologies Inc., a Toronto based provider of AI solutions that automate supply chain prescriptive analytics and decision-making in the retail and consumer packaged goods (CPG) industries.
On June 15, 2020, Kinaxis announced the definitive agreement to acquire Rubikloud Technologies for US $60 million in cash. The transaction was slated to close within 60 days.
Rubikloud’s SaaS-based ML offerings empower retail and CPG manufacturers to transform their core operations by improving and automating complex, profit-generating decisions.
Founded by CEO Kerry Liu, Rubikloud has raised over US $45 million in venture capital funding. Its principal investors included Li Ka-Shing’s Horizons Ventures and Intel Capital. Other investors included Inovia Capital, First Ascent Ventures (The OpenText Enterprise Apps Fund), MaRS Investment Accelerator Fund, Access Industries, TOM Group, Ule.
photo credit: Rubikloud
Kinaxis Closes Acquisition of Rubikloud
OTTAWA, CANADA, July 2, 2020 – 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.
Danielle McNeil Taylor | Kinaxis
Rick Wadsworth | Kinaxis