Slyce to buy VC-backed mobile couponing app SnipSnap for $6.5 mln

Slyce Inc (TSX-V: SLC), a venture-backed visual search platform that went public in 2014, has agreed to purchase SnipSnap App LLC Co, a mobile couponing company headquartered in Philadelphia, Pennsylvania. The cash and stock deal, which is valued at US$6.5 million, is expected to close in early February. For the Toronto-based Slyce, the acquisition, its third in the past six months, provides for new opportunities in widening its service offering to retailers, the company said. Founded in 2011, SnipSnap has received funding from U.S. angel investors and venture capital firms, including Dreamit Ventures and MentorTech Ventures.