Istanbul’s e-commerce pricing platform Prisync acquires competitor Marguard
Price tracking, monitoring, and pricing SaaS Prisync has acquired one of its largest competitors in the Baltics, Lithuania-based Marguard. This purchased now adds to Prisync’s string of acquisitions, Australia’s Spotlite in 2019, and the UK’s Competitor Price Watch. Founded in 2013, Prisync now serves more than 600 companies of all sizes in over 50 countries around the globe. With the Marguard acquisition, the firm now adds household names including Samsung, Jabra, Telia, and Electrolux to the portfolio, as well as regional brands including Topocentras and Azeta. As a testament to the firm’s level of service, co-founder and CEO Burc Tanir states that 80% of the customer base of Prisync’s acquisitions remain on board. “The fact that these brands trust us in their pricing management tells us that we’re one step closer to being the first pricing optimization tool that comes to mind.” Regarding the acquisition Marguard CEO Mindaugas Balčinas comments, “I have 4 daughters. Marguard was the fifth one. Together with other ‘parents’ we raised it from a ‘baby’ with domestic clients and handmade Excel reports, to a company with tens of worldwide clients, innovative IT solutions, and respectful customer service. I’m sure this ‘wedding’ with Prisync will help our clients to solve even more pricing problems and win daily price wars against their competitors.” The financials of the acquisition were not disclosed.
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