MoMagic which is a New Delhi based data-driven digital marketing startup has now acquired the mobile app analytics startup AdGyde from its Join venture Partner Spice Mobility.
Before the acquisition takes place, MoMagic also took a 51% stake in the AdGyde while the Spice Mobility held a 49% stake.
Talking about the acquisition, Arun Gupta, Founder, and CEO, MoMagic, said, “100 per cent stake acquisition in AdGyde is the 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.”
The new acquisition is a part of a MoMagic long-term strategy to the transition into a much more robust digital marketing solutions provider with the use of the latest innovative technology.
After the completion of the acquisition, the MoMagic will completely go to absorb the AdGyde within its business operations.
The startup which founded in 2011 by the Arun Gupta, MoMagic provides a one-step integrated marketing platform to help its clients across the various domains and field in an effective and hassle-free manner.
Some of the prominent MoMgic clients include the Nazara Games, media entertainment group include the ABP Live News, Dainik Bhaskar, and the startups include the Credit Mantri, Hubhopper, Coutloot, DocOnline, ShoppingPost, etc.
MoMagic is backed by some of the emerging electronics manufacturing giant Foxconn and the MediaTek, which is the largest chipset maker.
AdGyde offers a one-stop solution to track optimization and monetization of mobile applications. It offers a number of metrics, helping with real-time mobile app analytics and attribution solutions.