Longmont, CO, January 4, 2011 – Parascript, LLC, the image analysis and pattern recognition technology provider, today announced that it has completed the sale of Applied Intelligence Solutions, LLC (AIS), a wholly-owned subsidiary, to DemandTec, Inc., a collaborative optimization network for retailers and consumer product companies.
Employing advanced pattern recognition technology, AIS enables retail customers to boost revenue, minimize markdowns and improve profitability. Driven by a common demand platform, the optimization suite delivers best practice solutions—for assortment, allocation, replenishment, price and markdowns—bringing retailers the opportunity to permanently improve performance baselines.
“At Parascript, we are proud to have built a reputation as a world leader in pattern recognition technology. We are happy to be able to share that expertise with DemandTec through the sale of AIS, and to enable the leading retail technology provider in further expanding its merchandising and marketing solutions to the retail industry,” said Bill Pearlman, CEO of Parascript.
About Applied Intelligence Solutions, LLC
Applied Intelligence Solutions, LLC (AIS) provides an intelligent software platform with the agility and range to meet critical demands of the contemporary retail enterprise. With three decades of expertise in forecasting, scalable algorithm development, pattern recognition, neural networks and other artificial intelligence, our technologies enable customers to boost revenue, minimize markdowns and improve profitability. Driven by a common predictive platform, the solution suite delivers best-practice solutions in assortment, allocation, replenishment, price and markdown, bringing retailers the opportunity to permanently improve the baseline of performance. AIS is headquartered in Westminster, Colorado. Research and development facilities are in Moscow, Russia.
About Parascript, LLC
The Parascript image analysis suite extracts meaningful information from images. Employing patented digital image analysis and pattern recognition technologies, the Parascript image analysis suite improves decision quality in medical imaging, postal and payment automation, fraud detection, and forms processing operations. Parascript software processes over 100 billion imaged documents per year. Fortune 500 companies, postal operators, major government, and financial institutions rely on Parascript products. Organizations include the U.S. Postal Service, Böwe Bell + Howell, CheckFree – now part of Fiserv, Elsag, Lockheed Martin, NCR, Siemens, and Unisys. Parascript is online at https://www.parascript.com.