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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.

While we acknowledge the potential of BRZE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BRZE and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: ChatGPT Stock Advice: Top 12 Stock Recommendations and 10 Cheap Rising Stocks to Buy Right Now.

Disclosure: None.

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

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At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

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