Our company, Prisync, has just made its 2nd acquisition to date and acquired its UK-based competitor Competitor Price Watch. ( We acquired our AU-based competitor Spotlite back in March 2019.)
UK-based Competitor Price Watch has been one of the first-movers in the competitor price tracking industry and served over 100 customers across the world, mainly in the UK. Given the competitive market forces in the global pricing software market, the challenges of scaling a price scraping technology & business and the company's decision to focus on other business areas, the company (CPW) was in consideration to find a better place for its existing user base & technology and we believed that Prisync was the right home for them all.
The UK e-commerce market constitutes 25% of Prisync's customer base and it's a very important market given its maturity and the natural result of it: tough price competition.
This strategic acquisition will help Prisync increase its presence in the world's third-largest e-commerce market as we'll be providing our services to all those customers who benefitted from Competitor Price Watch's services back in time.
We'll also have the chance to improve Prisync's core product by utilizing the years of development efforts put into CPW's technology. Therefore, this deal will definitely translate into a stronger Prisync, both commercially and technologically.
None of this would be possible without our amazing team and you, our users from around the world who have put their trust in us. Thank you for being with us on our journey!
