PHILADELPHIA, Feb. 6, 2019 /PRNewswire/ -- Slyce, the leader in visual search for retailer brands, today announced it has acquired the intellectual property (IP) assets of Allyke, the visual shopping platform for omni-channel retail. The acquisition includes Allyke's provisional patent portfolio, existing patent applications, and other digital assets of its artificial intelligence (AI) search platform.
The terms of the deal were not publicly disclosed.
"Allyke was an innovator in the visual search space and created valuable intellectual property, including patents, training data, and deep learning models," said Ted Mann, CEO of Slyce. "This expands our substantial IP portfolio, and enables Slyce to further accelerate our industry-leading visual product search."
Allyke was founded in 2015 and headquartered in Wellesley, MA. The company's core technology was developed by leading retail industry executives, former MIT scientists, and world experts in consumer buying behavior. The platform integrates with retailers' existing websites, in-store technologies, and mobile applications.
With operations in the Philadelphia, PA and New Waterford, Nova Scotia, Slyce's image recognition technology is used to power visual search in the mobile apps of some of the North America and Europe's most well-known retail brands, including Bed Bath & Beyond, Best Buy, Home Depot, Macy's, Neiman Marcus, Tommy Hilfiger, and others. The company recently partnered with The Landmark Group, one of the largest retail organizations in the Middle East, to launch visual search capability across 10 of its most successful brands.
About Slyce Slyce is the world's leading provider of visual product search for Retail and is changing the way people find what they are looking for. Using artificial intelligence and groundbreaking image recognition technology, Slyce has developed a fully integrated visual search SDK for retailers' mobile apps and websites. The company has deployed visual search for more than 60 major retailers, including Home Depot, Macy's, and Tommy Hilfiger. For more information, visit https://slyce.it.