Oracle Acquires Advanced Visual Technology
Oracle announces that it has entered into an agreement to acquire Advanced Visual Technology (AVT), a provider of 3D visual macro space planning software for retailers.
AVT helps enable 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.
AVT helps enable 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.