Slyce, a visual product search platform, announced that it has reached a definitive merger agreement with Oculus Ventures Corporation which will enable the company to be listed on the Toronto Stock Exchange (TSX). The agreement is subject to the approval of the TSX Venture Exchange and regulatory authorities.
The agreement — once completed — will allow Oculus to acquire all issued and outstanding Slyce shares, making the company publically available on the TSX. Oculus will re-brand itself as Slyce Inc. once the merger is complete.
The news comes after a successful six months for Slyce, during which the company was awarded $10.75 million in A-round funding. The company also established a Nova Scotia-based technology hub, with approximately 60 staff positions available for prospective workers. Slyce also made notable acquisitions, acquiring Hovr.It — a Visual Search Startup — in December 2013 and a computer vision technology from York University in February 2014.
“We see this move to the public markets as another key step towards our goal of building the next great Canadian technology company,” said Cameron Chell, co-founder and Managing Director of Slyce. “The retail landscape is changing rapidly and we’re experiencing strong demand for this technology from a growing list of Fortune 1000 brands which see the significance in the service we offer — namely, enabling much of the physical world to be their showroom.”