E-commerce platform Prisync acquires competitor Marguard
Competitor price tracking and dynamic pricing software Prisync has acquired its competitor Marguard, one of the most prominent players in the Baltics region. The acquisition of Marguard expands Prisync’s portfolio to over 600 retailers and manufacturers from over 50 countries worldwide.
The acquisition comes two years after acquiring Australia-based competitor Spotlite in 2019, and UK-based competitor Competitor Price Watch in 2020 along with their technologies.
Prisync is a price tracking, monitoring, and pricing SaaS platform 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.
With the acquisition of Marguard, the company added companies including Samsung, Jabra, Stokke, Telia, Electrolux and regional players like Topocentras and Azeta to its portfolio.
Prisync co-founder and CEO Burc Tanir says the company’s dynamic pricing solutions have a track record of retaining 80% of the customer base of its acquired ventures.
“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.
“The fact that these brands trust us in their pricing management tells us that we’re one step closer to being the first pricing optimisation tool that comes to mind, and this is what drives our hard work.”
Tanir 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 CEO Mindaugas Balčinas says the acquisition will drive the company’s business in the future.
“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 the company with tens of worldwide clients, innovative IT solutions and respectful customer service,” says Balčinas.
“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.”