Prisync, a provider of competitor price tracking in the e-commerce market has acquired its Australia-based competitor Spotlite.
The agreement represents Prisync’s first acquisition.
Prisync CEO Burc Tanir said: “Welcoming the Spotlite brand and its customers into Prisync family will go a long way in helping us sustain and grow Prisync’s presence within Australia and also in the wider Asia Pacific region.
Prisync’s pricing software technology enables e-commerce companies to automatically track their competitors’ product prices and stock availability.
The company also offers dynamic pricing, enabling the e-commerce companies to automatically change the prices on their website in a bid to increase sales volume and become more competitive.
It is estimated that there are more than 10 million e-commerce companies in the world and the global market is projected to grow from $2.8 billion in 2018 to $4.8 billion in 2021, according to Statista’s recent research.