Combined Oracle, Retek, ProfitLogic Technologies Provide Retailers the Most Comprehensive Solution Set on the Market
REDWOOD SHORES, Calif. July 18, 2005 05:30 AM
Oracle announced today that it has completed the acquisition of ProfitLogic, Inc. ProfitLogic's software analyzes customer demand patterns to help retailers make inventory, pricing and merchandising decisions. 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, among others.
"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. "The combination of Oracle, Retek and ProfitLogic can now deliver the retail industry's most comprehensive and robust enterprise solutions."
"The combined companies will 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," said Scott Friend, co-founder and former president of ProfitLogic, now vice president of marketing and science, Oracle's Retek Global Business Unit.
"Improving margins is the key business driver for retailers. 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 IDC.
Oracle will host a town hall meeting for customers and partners on August 4, 2005 at 8:00 a.m. PDT / 11:00 a.m. EDT to discuss how the combination will impact the future direction of retail enterprise solutions to empower a customer-insight-driven enterprise. For more information, visit www.oracle.com/profitlogic.
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