A Braze (Nasdaq: BRZE), main customer engagement platform that empowers brands to be absolutely engaging™, announces that it has signed a definitive agreement to acquire OfferFit, a company for decision-making by AI, for $325 million, subject to usual closing adjustments.
AI decision agents can experiment, learn and deliver highly relevant and personalized experiences autonomously. In September 2024, Braze shared its vision for AI agents in customer engagement, based on your existing research in artificial intelligence, together with the planned development of the Catalyst Project. This native AI agent was designed to help brands personalize and optimize experiences with journeys, highly relevant content and incentives.
For four years, OfferFit has developed a multi-agent solution that recommends individualized customer journeys across multiple channels, in partnership with customer engagement solutions like Braze. Brands have observed an increase in performance when using OfferFit's AI technology, for example, customizing over a hundred features in an email to promote new customer registrations or optimizing reactivation campaigns for inactive users. After the acquisition closing, Braze will be able to integrate the existing sophisticated and multi-agent approach of OfferFit more deeply into its broader platform, in addition to leveraging the expertise of the OfferFit team alongside the current development of the Catalyst Project to collectively drive more sophisticated experiments and provide 1:1 personalization for all aspects of the customer experience.
"In Brazil", we have been innovating to help brands leverage cutting-edge technologies since our founding over a decade ago. From the beginning, our real-time stream processing technology differentiated Braze's modern approach to multi-channel Customer Engagement. Combined with Canvas as an orchestration layer and integrated with BrazeAI across our platform, Braze is now responsible for the fast and reliable delivery of trillions of personalized messages each year, said Bill Magnuson, Co-founder and CEO of Braze. And now, with the planned acquisition of OfferFit by Braze, our products and complementary teams will come together to define the next chapter of Customer Engagement evolution with AI. George, Victor and I are extremely excited about a future where reinforcement learning and modern transformer architectures are used in Braze's product ecosystem to drive a vision where the AI agent automatically understands customers more deeply, interact with them more fully and strengthen customer relationships through greater relevance in messages and intelligent optimization, explain Magnuson.
"Just like Braze, OfferFit was built to apply advanced technologies to the toughest problems that marketing professionals face. Focused on the decision-making layer, a OfferFit substitui o trabalho manual de testes A/B com agentes de aprendizado por reforço que experimentam e aprendem de forma autônoma as ações ideais”, said George Khachatryan, Co-founder and CEO of OfferFit. "As long-time technology partners of Braze, we already knew their team well, and the synergies of joining forces were clear. As we formally unite, the excitement is mutual, because Victor and I seek to leverage Braze's product ecosystem and its global scale to enhance the existing OfferFit product, in addition to enhancing the Catalyst Project and BrazeAI as a whole, concludes Khachatryan.
Under the terms of the agreement, Braze will acquire OfferFit for $325 million, in a combination of cash and Braze Class A common stock. Subject to the usual closing conditions, the acquisition is expected to be completed in the fiscal quarter ending on July 31, 2025. Goldman Sachs & Co. LLC is acting as a financial advisor and Davis Polk & Wardwell LLP is acting as legal advisor to Braze. The Atlas Technology Group is serving as the financial advisor and Latham & Watkins LLP as the legal advisor for OfferFit.
