Slyce acquires SnipSnap as image recognition advances in mobile shopping

In a reflection of the growing role that image recognition technology is playing in mobile shopping, visual product search company Slyce Inc. has acquired mobile couponing firm SnipSnap for $6.5 million.

The acquisition will enable users who are already taking photos of coupons with the SnipSnap application to extend that activity while also supporting Slyce’s goal to position itself as a complete consumer engagement platform for major retailers, both in and out of the store.