SINGAPORE, July 29, 2019 /PRNewswire/ -- Trax, a leading global provider of computer vision and analytics solutions for retail, today announced its acquisition of Planorama, Europe's top supplier of image recognition services for retail execution and merchandising for Consumer Packaged Goods (CPG) companies. The acquisition will build upon the significant depth and breadth of foundation already in place to serve CPG customers globally, by expanding customer reach and making available a comprehensive set of in-store execution tools to the market.
CPG brands and retailers rely on Trax's in-store execution solutions, market measurement and analytics services, which are powered by proprietary fine-grained image recognition, machine learning and IOT platforms – to turn photos of retail shelves into granular, actionable shelf and store-level insights.
Planorama leverages deep learning-based image recognition to offer a full range of CPG-centric solutions to build merchandising recommendations, monitor POS compliance, or learn from shelf insights to continuously improve the perfect store journey.
Trax, the Global Leader in Computer Vision Solutions for Retail
This latest announcement from Trax follows a series of 2019 acquisitions. Planorama is the latest company to join the Trax family, following China's AI and big data service provider, LenzTech, and U.S. based shopping rewards app, Shopkick.
"This is an important moment for Trax as we continue to expand our reach and strengthen our capabilities available to current and prospective customers. By combining our innovative cultures, we see an incredible opportunity to leverage the best of both companies' leading technologies, product offerings, delivery expertise and talent. I am confident that we will deliver exceptional outcomes for CPG brands and retailers worldwide," said Joel Bar-El, CEO and co-founder of Trax.
"We are delighted to join Trax as we share the same passion to bring the best of breed technology and capabilities to retail. Together we will be able to better serve our customers and partners and provide our people with exciting opportunities to grow," said Ayoub Khammari, CEO, Planorama.
"Over the years, Trax has redefined the retail industry with its purpose-built solutions and services and CPG expertise," said Dror Feldheim, chief commercial officer and co-founder, Trax. "Joining forces with Planorama, we will deliver a holistic, closed-loop approach to solving the most pervasive and systemic issues facing retail today."
Trax is a leading provider of computer vision solutions and analytics for retail. It recently was selected as a Red Herring Top 100 Global and ranked in the top 25 Fastest Growing Companies on Deloitte's Technology Fast 500 list. The company enables tighter execution controls in-store and provides clients with the ability to leverage competitive insights through its in-store execution tools, market measurement and analytics services to unlock revenue opportunities at all points of sale. Many of the world's top brands and retailers leverage Trax globally in more than 50 countries to manage in-store execution and increase revenues at the shelf. Trax is headquartered in Singapore with offices worldwide. To learn more about Trax, please visit www.traxretail.com.
Established in 2009, Planorama digitalizes retail execution and merchandising for manufacturers and retailers by leveraging the power of Artificial Intelligence. Based on shelf pictures from any source, their image recognition solution can instantly analyze and recognize millions of product items and deliver immediate actionable retail insights for their clients and their teams. Headquartered in Paris, Planorama powers multinational companies such as Unilever, Mondelez and Coca-Cola.