BlackLocus Acquired By Home Depot

Austin-based BlackLocus, which had been developing pricing optimization software for retailers, has been acquired by The Home Depot, the company said Monday. Financial terms of the buy were not disclosed. Black Locus said it has become The Home Depot's Innovation Lab, and will remain in Austin. Black Locus was headed by Rodrigo Carvalho and Lukas Bouvrie, and had been venture backed by DFJ Mercury, Silverton Partners, and Innovation Works. The company grew out of work done by Carvalho and Bouvrie at Carnegie Mellon University.