Beroe, the procurement decision intelligence vendor, has acquired nnamu GmbH. nnamu is a startup founded in Munich, Germany, in 2022, with backing from TWS Partners, a global leader in negotiation consulting. nnamu has developed the world’s first AI Agent that uses advanced game theory principles and applies them to a negotiation strategy. The result for customers can generate substantial cost savings and improve the total cost of ownership.
nnamu has already attracted interest from firms such as BT Sourced, Jaguar Land Rover and Deutsche Bahn AG. The firm has no attributed customer testimonials yet. However, it does say that it has helped a mobility company save more than 12% on their office supplies.
nnamu is built on a 20-year data set that contains details of over 2,000 negotiations. These negotiations were undertaken by more than 100 specialists in game theory and economics. The total value of the negotiated deals were worth over €400 billion. Presumably, these deals were conducted by TWS Partners, who have a history of leveraging game theory.
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.”
Looking forward to nnamu and Beroe working together
Beroe is no stranger to AI. Having developed the Beroe live.ai platform. The platform was recently updated, enhancing the Category Watch and Risk Watch modules and launching ‘Category Digest’, a ground-breaking AI-generated category podcast. The firm saw synergies with the nnamu autonomous negotiation capabilities.
Beroe has already devised an integration roadmap and plans to infuse its proprietary market intelligence into nnamu’s negotiation agent. The inference is that nnamu will remain a separate product, enhanced with the Beroe capabilities. Beroe will be significantly enhanced through the roadmap, helping to deliver better outcomes to customers.
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.”
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.”
Paul is still a Partner at TWS Partners. It will be interesting to see whether he joins Beroe as part of the acquisition. So far, neither Walter nor Paul have updated their LinkedIn profile to indicate a change of status. However, Beroe has made no clear statement yet about how the organisation will fit into Beroe moving forward.
Enterprise Times: What does this mean
AI thinks faster and more consistently than humans. It can also draw from much wider experience than any single human can. While negotiations may still require a human element as relationships are built, AI can certainly help the dialogue, as nnamu customers have already found.
The acquisition of nnamu by Beroe gives the procurement intelligence company a big step forward for its technology. It will be interesting to see how and when the two platforms are integrated and the outcomes of future negotiations.
