Braze, Inc. (BRZE) Completes Acquisition of OfferFit

Braze, Inc. (NASDAQ:BRZE) on Monday said it had successfully completed the acquisition of OfferFit. In March, the company entered into a definitive agreement to acquire the AI decisioning firm for $325 million.

The deal follows years of productive partnership between the two companies. The strategic acquisition is expected to enhance Braze, Inc. (NASDAQ:BRZE)’s cross-channel, real-time customer engagement capabilities through the integration of OfferFit’s multi-agent decisioning engine into its platform.

A web developer hunched over their laptop coding a customer engagement platform.

The move will also accelerate OfferFit’s growth as it leverages Braze, Inc. (NASDAQ:BRZE)’s global scale. The acquisition is likely to enable brands to benefit from complementary frontier technologies related to machine learning and automation, helping them transform customer relationships and generate mutual value for both the consumers and their business.

The acquisition builds on Braze, Inc. (NASDAQ:BRZE)’s previously announced Project Catalyst, a native AI agent to help brands customize and optimize their experiences.

Bill Magnuson, Co-founder and CEO of Braze, Inc. (NASDAQ:BRZE) stated the following on the acquisition:

“With the formal introduction of OfferFit by Braze into our already robust product suite, I am thrilled to deliver marketers a full spectrum of machine learning capabilities built with leading edge generative AI and reinforcement learning technology. We’re excited to see BrazeAI™ elevate the strategic role of marketers as they leave behind the drudgework of campaign creation and ascend to being a maestro of experience, optimizing each moment of the customer journey to further their brand and business goals by delivering valuable experiences that resonate with their consumers’ needs and desires. With the acquisition complete, I look forward to leveraging the complementary skills, products, and services that both Braze and OfferFit bring to the table and am extremely excited to be officially welcoming them to Braze.”

BRZE is up by nearly 13% over the past month.

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Disclosure: None.