Supply chain software firm LLamasoft has acquired artificial intelligence (AI) firm Opex Analytics LLC, the companies said Tuesday.The acquisition is backed by TPG Capital, Goldman Sachs, and MK Capital.
The deal combines the companies' technological capabilities and human resources to focus on delivering advanced AI solutions, ultimately spurring rapid adoption of new AI technologies for customers' digital transformation efforts, the companies said. Ann Arbor, Mich.-based LLamasoft provides supply chain software to some of the world's largest consumer brands; Chicago-based Opex provides enterprise-grade AI applications to global brands in the consumer packaged goods, retail, transportation, manufacturing, finance, and food services industries.
Opex employs more than 140 data scientists, operational experts, and development resources in the United States, Russia, and India that will now be combined with LLamasoft's resources. Opex will continue to go to market under the Opex Analytics brand, but as a LLamasoft Company, officials said.
"The acquisition of Opex Analytics supports our strategy to transform the future of enterprise decision making," Razat Gaurav, LLamasoft CEO, said in a statement announcing the acquisition. "The teams at LLamasoft and Opex are known for leveraging data and the power of AI to gain deep insights and solve complex problems for companies who battle a barrage of constantly changing market conditions and ever-evolving customer demands. The combination of our enterprise-grade analytics platform and our unmatched team of seasoned data scientists with simulation, optimization, and machine learning expertise will uniquely position us to unlock the value potential of AI for our customers."
Gaurav will lead the combined company as CEO of LLamasoft. Mike Watson and Ganesh Ramakrishna will co-lead the Opex Analytics business unit. TPG Capital, Goldman Sachs, and MK Capital will continue to be active partners to the combined company, LLamasoft leaders said.