SyncMedia acquires Adorithm

As part of the acquisition, the company will absorb the team, product, and intellectual property rights of Adorithm, SyncMedia said in a statement. With this acquisition, SyncMedia will derive enhanced capabilities to make its product offerings more data-driven and provide better value to their customers using artificial intelligence (AI) and machine learning (ML) algorithms, it added.

Tech platform SyncMedia on Monday said it has acquired media-tech firm Adorithm for USD 1 million (over Rs 7 crore). As part of the acquisition, the company will absorb the team, product, and intellectual property rights of Adorithm, SyncMedia said in a statement.

With this acquisition, SyncMedia will derive enhanced capabilities to make its product offerings more data-driven and provide better value to their customers using artificial intelligence (AI) and machine learning (ML) algorithms, it added. The company has been delivering superior analytics to its customers through data-driven technology, thereby helping them in better media planning and delivery in a cost-efficient manner, SyncMedia said.

"With this acquisition, we will be able to cater to our customers with deep insights backed by enhanced AI/ ML expertise. Our solution provides the sophisticated cause-and-effect analytics revealing the optimisation opportunities for brands, media agencies and broadcasters," SyncMedia founder and CEO Anubhav Sharma said. The company is aiming around 100 per cent growth in revenues with its increased focus on digital-first companies, he added.