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TORONTO, ONTARIO–(Marketwired – June 22, 2016) – Image recognition leader Slyce Inc. (TSX VENTURE:SLC)(FRANKFURT:06O1) (“Slyce”) today announced a signed contract with leading apparel retailer Express to power visual search for mobile commerce. Express will integrate Slyce’s Universal Scanner product, which enables image recognition of clothing and products, as well as catalog and barcode scanning.
Express currently operates more than 600 retail and outlet stores, and is based in Columbus, Ohio.
Slyce will derive revenues from the contract through monthly recurring software licensing and service fees, in line with its current pricing model, over the term of the contract.
Slyce’s business model features multiple revenue streams arising from its visual search platform, consumer apps and corresponding data services. The revenue streams include fees for software licensing, integration, purchase transactions, program promotions and data analytics.
About Slyce Inc.
Slyce, based in Toronto, ON, delivers image recognition technologies and is currently focused on enabling a powerful sales channel for major retailers and their customers. Consumers, wherever they are, can conveniently engage with retailers by taking pictures of desired products using their mobile devices, thereby initiating the visual search service with near-instant product recognition capability. The Company delivers its technology both as a white-label visual search platform and as a suite of consumer mobile apps. Slyce’s technology is used by large retail brands such as Neiman Marcus, Best Buy, JCPenney and Home Depot.
Slyce’s business model features multiple revenue streams arising from its visual search platform, consumer apps and corresponding data services. The revenue streams include fees for software licensing, integration, purchase transactions, program promotions and data analytics.
Slyce is also listed on the Frankfurt exchange trading under (FRANKFURT:06O1).
For image download and further company information, please click for the Slyce Media Kit.
READER ADVISORY
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release contain forward-looking information including, without limitation, Slyce’s business plan, strategy and related milestones, Slyce’s suggestions of future outcomes, the future use and development of its technology, future customers and business partners. The words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Slyce.
Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Slyce.
Slyce does not undertake any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws.
None of the information contained on, or connected to, Slyce’s website is incorporated by reference herein.
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For further information and interviews:
Slyce
Ted Mann
President
[email protected]
Slyce
Roy Roman
[email protected]
(647) 464-6200
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Wed, 22 Jun 2016 12:30:00 GMT
