Toronto, Canada-based Slyce Inc. (TSX VENTURE:SLC) (FRANKFURT:06O1), a visual product search platform, acquired BuyCode, Inc., a Tel Aviv, Israel-based company that developed the Pounce image recognition-based shopping app, for US$5m in shares, cash and earn-out incentives.
Following the close of the transaction, Pounce founder and CEO Avital Yachin will join the Slyce executive team.
Founded in 2012, Pounce is a mobile commerce app and platform which enables consumers to hover over product images with their smartphone’s camera and, using image recognition, carry out checkouts of the items they discover. Its software also offers consumers the ability to checkout items from multiple online retailers’ commerce platforms after a single submission of their payment information.
Pounce, which supports Bitcoin payments, has integrated its mobile payments technology with North America’s retail brands including Lord & Taylor, Hudson’s Bay and others.
The company had raised seed funding from Entrée Capital, Gigi Levy and Plus Ventures.