Slyce Acquires BuyCode for US$5M

pounceToronto, Ontario, Canada-based visual product search platform Slyce Inc. (TSX VENTURE:SLC)(FRANKFURT:06O1) acquired mobile commerce company BuyCode, Inc., for a total of US$5m in shares, in cash and earn-out incentives.

With the transaction, Pounce founder and CEO Avital Yachin will join the Slyce executive team.
Founded in 2012 and based in Tel Aviv, Israel, BuyCode developed the Pounce image recognition-based shopping app which enables consumers to hover over product images with their smartphone’s camera and, using image recognition, carry out one-click checkouts of the items they discover.

Pounce, which had raised seed funding from Entrée Capital, Gigi Levy and Plus Ventures, has integrated its mobile payments technology with several of North America’s largest retail brands including Lord & Taylor, Hudson’s Bay and others and, through technology integration, is expected to fast track (in the fourth quarter of 2014) Slyce’s consumer facing strategy whereby Slyce app users will be able to snap-to-purchase real-world products with one click.



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