Singaporean computer vision and analytics provider Trax has bought Planorama, a French supplier of image recognition services for retail execution.

The transaction is expected to expand Trax’s reach to more consumer packaged goods (CPG) customers worldwide and offer a comprehensive set of in-store execution tools to the market.

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The deal is the third in a series of acquisitions made by the company this year. It previously acquired China-based AI and big data service provider, LenzTech, and US-based shopping rewards app Shopkick.

Headquartered in Paris, Planorama uses shelf pictures from various sources to offer image recognition solution to its customers.

The solution is designed to instantly analyse and recognise millions of product items to provide immediate actionable retail insights for their clients and their teams.

Trax CEO and co-founder Joel Bar-El said: “This is an important moment for Trax as we continue to expand our reach and strengthen our capabilities available to current and prospective customers.

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“By combining our innovative cultures, we see an incredible opportunity to leverage the best of both companies’ leading technologies, product offerings, delivery expertise and talent. I am confident that we will deliver exceptional outcomes for CPG brands and retailers worldwide.”

Established in 2009, Planorama offers a range of CPG-centric solutions for companies to continuously enhance the store experience.

The company uses deep learning-based image recognition to offer its products to various CPG companies such as Unilever, Mondelez and Coca-Cola.

Planorama CEO Ayoub Khammari said: “We are delighted to join Trax as we share the same passion to bring the best of breed technology and capabilities to retail.

“Together, we will be able to better serve our customers and partners and provide our people with exciting opportunities to grow.”