MoMagic Technologies, a New Delhi-based digital marketing startup has acquired Noida-based mobile app analytics startup AdGyde from its joint venture partner Spice Mobility. Before the acquisition, MoMagic had a 51 per cent stake in AdGyde while Spice Mobility had a 49 per cent stake.
Talking about the acquisition, Arun Gupta, Founder and CEO, MoMagic, said, “100 per cent stake acquisition in AdGyde is a good fit for both MoMagic and Spice Mobility. We want to grow in big data analytics, artificial intelligence and Spice (Mobility) is focussing on handset business.”
MoMagic is focusing on a long-term strategy to turn itself into a robust digital marketing solutions providers by using advanced technologies. And this latest acquisition is a part of its strategies. After the acquisition, MoMahic will completely absorb AdGyde within its business operations.
MoMagic was founded by Arun Gupta in 2011 and provides a one-stop integrated marketing platform to clients including Nazara Games, Dainik Bhaskar, ABP Live News, Hubhopper, Coutloot, Credit Mantri, DocOnline and ShoppingPost. The startup is backed by Foxconn and MediaTek.