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Syte Acquires Top Visual Search Company Slyce To Expand North American Footprint

Sep 23, 2021•almost 4 years ago

Acquiring Company

Syte

Acquired Company

Slyce

Internet ServicesCommunity And LifestyleCommerce And ShoppingProfessional ServicesOther

Description

Syte, the leading Product Discovery Platform for retail, today announced that it has acquired both the fashion and furniture segments of Slyce, a US-based visual search company that has integrated its technology into the apps and websites of more than 60 major retailers, including Abercrombie & Fitch, New Look, and Ashley Furniture HomeStore.

Company Information

Company

Syte

About

Syte is the world's first Product Discovery Platform for retail. It uses visual AI to create intuitive search and discovery experiences for all types of shoppers. Syte's solutions include visual and text search, automated product tagging, personalized recommendation carousels, and more. They use unique data generated by visual AI to help shoppers find the most relevant products. Brands and retailers like Farfetch, PrettyLittleThing, Signet Jewellers, Coleman Furniture, SHEIN, and Baycrew's, partner with Syte to drive eCommerce revenue and build long-term customer loyalty. To learn more about Syte's solutions, products, technology, patents, and trademarks, visit www.syte.ai. SOURCE Syte

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed