Coop acquires online marketplace Siroop

Swiss retail company Coop will be the total owner of online marketplace Siroop with effect from the first of May. On that day, the major retail and wholesale company will acquire the 50 percent share package of Swisscom. Coop and Swisscom jointly launched Siroop in 2016.

In October 2015, the competition authority in Switzerland greenlighted a plan from Swisscom and Coop to start an online marketplace called Siroop. With this project, both companies wanted to contribute their expertise in the field of ecommerce, digitization, marketing and trading.

Siroop and Microspot become one brand

Now, Coop acquires Siroop and will merge it with its distribution channel Microspot. “These two will now be consolidated under a single brand to capitalize on additional growth potential”, Swisscom, which remains a technology and sales partner, says in the press release.

“This realignment is aimed at capitalizing on know-how and market presence and boosting market positioning in the online trading business”, the company explains. “It should also eliminate duplication of effort and create synergies.”