Istanbul’s E-commerce Pricing Platform Prisync Acquires Lithuanian Startup Marguard
Istanbul-based competitor price tracking and dynamic pricing software Prisync acquired Lithuania-based startup Marguard, one of the largest players in the Baltics region, which was founded in 2014. The acquisition of Marguard expands Prisync’s portfolio to over 600 retailers and manufacturers from over 50 countries worldwide.
Founded in 2013, Prisync has advanced its price scraping technology and strengthened its influence in two major markets by acquiring Australia-based competitor Spotlite in 2019, and UK-based competitor Competitor Price Watch in 2020 along with their technologies.
Prisync Retains the Customer Base of Acquired Ventures
Serving more than 600 companies of all sizes, Prisync helps retailers make data-driven and profitable pricing decisions. With the recent acquisition of its Lithuania-based competitor, the company added giants like Samsung, Jabra, Stokke, Telia, Electrolux, and regional players like Topocentras, Azeta to its portfolio.
Burc Tanır, co-founder and CEO, states that nearly all of the customers of the companies they have acquired so far have continued to work with them after the acquisitions. He comments, “Our team goes the extra mile to make everything seamless for our customers and prospects. They experience seamless customer care and see how easy it is to use our solutions. They stay with us, and we never compromise the quality of our service.”
He adds, “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, and this is what drives our hard work.”
“We’ll Continue to Grow and Develop”
Tanır comments on the nature of competing in a fast-paced environment like e-commerce, “Prisync has to be a competitive and dynamic software in itself, to adapt to the changing needs of e-commerce businesses. And these acquisitions fuel this growth and dynamism since we get the chance to benefit from their technology and add their expertise onto ours.”
Marguard’s CEO Mindaugas Balčiūnas also commented on the acquisition, “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.”
Tanir suggested that we will see more acquisitions and growth from Prisync in the future, “We are going to seize opportunities like this acquisition, to make sure we, a customer-centric SaaS in the simplest terms, meet our customers’ needs and expectations. That’s how we think we’ll thrive in this ultra-competitive environment.”
Prisync is a price tracking, monitoring, and dynamic pricing SaaS serving over 600 e-commerce companies in more than 50 countries. It helps e-commerce businesses of all sizes make efficient data-driven pricing decisions to increase sales growth and improve profit margins.