Australia's Prophecy to buy supply chain AI vendor Complexica

ASX-listed enterprise software company Prophecy International Holdings (Prophecy) has agreed to acquire AI software applications provider Complexica to create what the company describes as an ‘AI pure play’ software company.

Complexica, a 2018 Impacts Awards finalist, has commercialised a modularised software platform called Decision Cloud, powered by its AI engine, and provides software for supply and demand optimisation, particularly for manufacturers, wholesalers & distributors and retailers.

Among its investors are Acorn Capital, Flinders Ports, MA Financial Group, Microequities Asset Management  and Perennial Partners.

Prophecy is the holding company for Snare, which develops a suite of advanced threat intelligence software solutions, and eMite, which develops advanced real-time analytics and dashboard solutions to be deployed into IT environments.

The company, established in 1980 and headquartered in Adelaide, services markets in the USA, Europe, Asia and Australia.

The proposed merger has the potential for "significantly accelerated revenue opportunities assisted by complementary and reciprocal product synergies, refreshed branding leveraging Complexica’s AI pedigree and potential for international expansion", according to Prophecy.

The combined business will remain listed on the ASX and be re-named Complexica Group Limited.

Prophecy’s chairman Ed Reynolds said the proposed merger unites its enterprise applications and 40+ year track record of serving blue-chip customers with Complexica’s AI capabilities.

"Together, we are creating an AI-first, end-to-end solution that will be the first of its kind on the ASX," he said.

"The Complexica team shares our strategic vision, and we are excited by the compelling product synergies and significant growth opportunities that will be unlocked through the proposed merger of our businesses.”

Complexica’s co-CEO Jonathan Drake said the proposed merger represents a pivotal moment for Complexica and brings the company closer to realising its ambition of becoming a leading provider of AI solutions that span the entire data-to-decision workflow.

"The scale created through the combination of our two businesses is incredibly compelling," he said.

"What excites me most is the depth of experience and the highly complementary expertise of our combined leadership team, which positions us exceptionally well for the next phase of growth.” 

Last month, SIEM vendor Securonix entered into partnership with Prophecy.