Source: prnewswire

Beroe Inc., a global leader in procurement decision intelligence, has acquired nnamu GmbH, a pioneering negotiation technology business that has created the world’s first game theory-based AI agent. nnamu uses advanced game theory principles to recommend and deliver optimal negotiation strategies, generating substantial cost savings and total cost of ownership improvements.

Having deployed AI in multiple use cases on the Beroe Live.ai platform, the company saw synergies with nnamu’s exceptional capabilities in autonomous negotiations. As part of the integration roadmap, Beroe will infuse its proprietary market intelligence into nnamu’s negotiation agent, ensuring even better outcomes for customers.

Vel Dhinagaravel, founder and CEO of Beroe, said: “Beroe was founded on the basis that procurement teams were at a disadvantage in terms of market knowledge, when compared to the commercial teams of their suppliers, and we’ve worked hard to close that gap for our customers for nearly 20 years. With this acquisition, Beroe is paving the way for procurement professionals to access advanced AI and game theory concepts, revolutionizing how procurement professionals negotiate with their suppliers.”

Christian Paul, co-CEO and founder of nnamu, commented: “Negotiators across industries use nnamu’s proprietary AI agents to easily set up, navigate and autonomously run negotiations leveraging game theory. Our users have lots of fun nearly effortlessly running these complex events, improving total value of ownership and supply chains.”

Martin Walter, co-CEO and CTO of nnamu, added: “As part of the acquisition Beroe has established a new entity in Germany and is taking on the full nnamu team. We are particularly excited nnamu has found a new home with Beroe – their proprietary market intelligence data will further amplify the impact of our solution for our clients.”