Oracle has announced that it has entered into an agreement to acquire Advanced Visual Technology Ltd.(AVT), a leading provider of 3D visual macro space planning software for retailers.
AVT enables retailers to collaborate with their stores and supplier partners to design and plan retail floor space in real time with a current photo-realistic view of each store.
AVT products combined with Oracle Retail’s comprehensive application suite is expected to increase the profitability of a store’s selling space through enhanced space allocation and performance monitoring across categories, aisles, departments and the entire store.
AVT employees and management are expected to join the Oracle Retail Global Business Unit.
The transaction is expected to close in the second half of 2008. Until the deal closes, each company will continue to operate independently. Financial details of the transaction were not disclosed.
Adding AVT to our portfolio of retail applications further builds on our strategy of providing broad and deep industry solutions that help transform the economics of retail businesses,” said Duncan Angove, Senior Vice President and General Manager, Oracle Retail. “The combination of Oracle and AVT will create an industry-leading macro space management solution that will maximize profitability through better allocation of selling space. This will help enable retailers to gain rapid and profitable ROI from every inch of store space and help Oracle further realize its vision for insight-driven retailing.”
“Some of the world’s leading retail companies already use AVT products to deliver optimized return on space utilization and retail customer experience,” said Victor Baneth, CEO of Advanced Visual Technology. “AVT’s 3D visual macro space planning, collaboration and compliance capabilities will add to Oracle Retail’s growing list of solutions that can help stores and retailers maximize profitability.”
