Fintech PR
Trax Acquires Leading European Provider of Image Recognition for Retail Execution Planorama
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.”
SOURCE Trax