Artificial intelligence (AI)-powered software platform Stylitics has acquired Wide Eyes, a Spanish company specialising in visual AI solutions for fashion and retail.
Wide Eyes’ customers include leading global retailers in Spain and the European Union.
The company has integrated its solution with retailers in more than 100 countries and records millions of users daily.
Wide Eyes’ image recognition and artificial intelligence technology will improve the commerce platform of Stylitics.
According to Stylitics, this enhancement drives easier product discovery and faster conversion.
The acquisition expands the company’s presence in Europe and the UK.
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Financial terms of the transaction have not been disclosed.
Stylitics founder and chief executive officer Rohan Deuskar said: “Wide Eyes’ AI systems and computer vision technology are based on several years of cutting-edge R&D and are widely used by many of Europe’s top retailers. We’re excited to bring these advanced capabilities and benefits to our retail customers and their shoppers and look forward to sharing several feature expansions later this fall.”
Following the acquisition, Stylitics will retain a team of engineers and customer success professionals in Spain from Wide Eyes.
Meanwhile, Wide Eyes chief executive officer and co-founder Luis Manent, as well as other key executives, will join the company’s leadership team.
Luis Manent said: “We share the same vision for the use of AI and advanced image technology to help brands build better shopping experiences for customers that are more personal, interactive and responsive.”
Headquartered in New York City, Stylitics works with fashion, apparel, footwear, accessories and home furnishings brands.
The company is reported to drive more than $4bn in incremental revenue for its customers.