Udit Agarwal
Mobile marketing company Affle (India) has acquired Bengaluru-based Vizury Interactive Solutions’ commerce business and brand in an all-cash deal, the company said in a statement. Affle (India), which had earlier filed papers for an Initial Public Offering (IPO), did not disclose the financials of the deal.
On Sunday, sources close to the development told BusinessLine that as part of the transaction, certain other assets and customer contracts of the Vizury business will also be transferred to Affle. Read: Affle buys Vizury’s re-targeting, push notifications biz
“Over the last several years Vizury’s commerce business has built a strong technology platform that we believe should become one of Affle’s key assets and help us strengthen our business across multiple markets. We look forward to growing our business with Vizury’s commerce customers,” Anuj Khanna Sohum, Chairman, MD and CEO of Affle, said in the press statement.
Affle (India) is the Indian unit of Singapore-based Affle Holdings, in which Microsoft holds a minority stake. “We are happy that our commerce business unit has found a new home and an exciting vision to be part of. The programmatic and creative personalisation capabilities of this platform are used by several e-commerce brands,” said Subra Krishnan, CEO at Vizury Interactive Solutions.
Vizury has its offices which is located in Dallas, San Francisco, Jakarta, Dubai, Bangalore and Singapore. Vizury is an ISO 27001 & ISO 27018 certified company.
Notably, it was four years back when Vizury last raised $16 million in its funding round of Series C which was led by some of the prominient investors which includes the Intel Capital with participation from Ascent Capital and existing investors, Nokia Growth Partnersand Inventus Capital Partners, in June 2014. The total funds raised by Vizury is $27 million. Ojas Ventures is also an investor in the startup.
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