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From the News Desk
Monday, 8. August 2005
Oracle Completes ProfitLogic Acquisition
Oracle Corp. has announced it has completed its acquisition of ProfitLogic Inc., a Cambridge, Mass.-based provider of Retail Profit Optimization (RPO) software. No financial details were released. The database giant had initially announced on July 5th its intent to purchase ProfitLogic, following a series of recent acquisitions that included PeopleSoft, Oblix, TimesTen and Retek. Some in the industry have stated Oracle's ProfitLogic play was aimed at strengthening its position in the company's ongoing and tightly contested battle with rival SAP Inc. for market share.
ProfitLogic's RPO software is essentially business intelligence software, designed to aid retailers analyze customer demand patterns and in turn optimize their inventory, pricing and merchandising decisions. Some of ProfitLogic's current customers include retailers such as American Eagle Outfitters, Ann Taylor, Bloomingdale's, The Children's Place Retail Stores, Famous Footwear, JC Penney, Marshall Field's, Nordstrom, Reitmans, ShopKo Stores and Toys R Us. "Our top priority is to bring the combined Oracle, Retek, ProfitLogic retail solutions to market for the benefit of our new and existing customers," said Duncan Angove, general manager, Oracle's Retek global business unit in Redwood Shores, Calif., via Webcast. "The combination of Oracle, Retek and ProfitLogic can now deliver to the retail industry the most comprehensive and robust enterprise solutions."
Angove said Oracle would continue to invest "deeply" in its retail business by bringing to market solutions that offer unparalleled value to retailers. "Between the three companies (Oracle, Retek, and ProfitLogic), we have an unbelievable amount of talent focused on this industry," he said. "Since we announced our intent to acquire ProfitLogic we've been blown away by the market's acceptance . . . we have a shared vision of lowering the cost of IT for our customers." A number of ProfitLogic's senior management team have been offered leadership positions within Oracle's Retek business unit, Angove continued, and all of ProfitLogic's current customers have been retained.
According to Scott Friend, formerly the co-founder and president of ProfitLogic and now the vice president of marketing and science for Retek, the combined companies would deliver to retailers the ability to further optimize their key business decisions across their entire enterprise and execute those decisions through best-in-class transaction systems in one seamless environment. "There comes a point for every retailer, when the benefits of economy of scale and performance erode because of the loss of intimacy with the customer; because of the scale of the organization," he said. "I think we offer a compelling solution . . . for major retailers that are committed to excelling and competing in a Wal-Mart-driven world."
Officials said by combining Retek's retail planning and execution solutions, ProfitLogic's RPO technologies and Oracle's enterprise database infrastructure and ERP applications, the company plans to help customers create tightly integrated customer insight-driven retail enterprises. "Look at the footprint Oracle Retail delivers to the marketplace and the capabilities of our solution stack . . . we allow retailers to rely less upon their gut (instinct and more on defined data)," said Thomas Madigan, vice president of strategy and marketing for Oracle. "Ours is a unique, end-to-end offering coupled with insight and expertise that will transform economics for retailers."
Madigan added Oracle's and ProfitLogic's merchandise optimization solutions are complementary and the company had not identified any product overlap. The plan moving forward is to integrate both together, he said. "The acquisition of ProfitLogic brings the critical addition of profit optimization capabilities to Oracle's retail offering and enables Oracle to offer retailers an insight-driven enterprise solution to address pricing and profit margin decisions," said Mike Witty, program director at Framingham, Mass.-based IT consultancy IDC Corp., in a statement.
ProfitLogic's RPO software is essentially business intelligence software, designed to aid retailers analyze customer demand patterns and in turn optimize their inventory, pricing and merchandising decisions. Some of ProfitLogic's current customers include retailers such as American Eagle Outfitters, Ann Taylor, Bloomingdale's, The Children's Place Retail Stores, Famous Footwear, JC Penney, Marshall Field's, Nordstrom, Reitmans, ShopKo Stores and Toys R Us. "Our top priority is to bring the combined Oracle, Retek, ProfitLogic retail solutions to market for the benefit of our new and existing customers," said Duncan Angove, general manager, Oracle's Retek global business unit in Redwood Shores, Calif., via Webcast. "The combination of Oracle, Retek and ProfitLogic can now deliver to the retail industry the most comprehensive and robust enterprise solutions."
Angove said Oracle would continue to invest "deeply" in its retail business by bringing to market solutions that offer unparalleled value to retailers. "Between the three companies (Oracle, Retek, and ProfitLogic), we have an unbelievable amount of talent focused on this industry," he said. "Since we announced our intent to acquire ProfitLogic we've been blown away by the market's acceptance . . . we have a shared vision of lowering the cost of IT for our customers." A number of ProfitLogic's senior management team have been offered leadership positions within Oracle's Retek business unit, Angove continued, and all of ProfitLogic's current customers have been retained.
According to Scott Friend, formerly the co-founder and president of ProfitLogic and now the vice president of marketing and science for Retek, the combined companies would deliver to retailers the ability to further optimize their key business decisions across their entire enterprise and execute those decisions through best-in-class transaction systems in one seamless environment. "There comes a point for every retailer, when the benefits of economy of scale and performance erode because of the loss of intimacy with the customer; because of the scale of the organization," he said. "I think we offer a compelling solution . . . for major retailers that are committed to excelling and competing in a Wal-Mart-driven world."
Officials said by combining Retek's retail planning and execution solutions, ProfitLogic's RPO technologies and Oracle's enterprise database infrastructure and ERP applications, the company plans to help customers create tightly integrated customer insight-driven retail enterprises. "Look at the footprint Oracle Retail delivers to the marketplace and the capabilities of our solution stack . . . we allow retailers to rely less upon their gut (instinct and more on defined data)," said Thomas Madigan, vice president of strategy and marketing for Oracle. "Ours is a unique, end-to-end offering coupled with insight and expertise that will transform economics for retailers."
Madigan added Oracle's and ProfitLogic's merchandise optimization solutions are complementary and the company had not identified any product overlap. The plan moving forward is to integrate both together, he said. "The acquisition of ProfitLogic brings the critical addition of profit optimization capabilities to Oracle's retail offering and enables Oracle to offer retailers an insight-driven enterprise solution to address pricing and profit margin decisions," said Mike Witty, program director at Framingham, Mass.-based IT consultancy IDC Corp., in a statement.
