MoMagic acquires AgGyde from Spice Mobility
App distribution firm MoMagic Technologies has fully acquired mobile app insight provider AdGyde Solutions, from its joint venture partner Spice Mobility, a top company official said Monday.
Electronics manufacturing giant Foxconn and electronic chipset maker MediaTek funded apps distribution firm MoMagic held 51 per cent stake in AdGyde while 49 per cent was owned by Spice Mobility.
"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 Technologies, Founder and CEO Arun Gupta told PTI.
Gupta declined to disclose financial details of the deal.
AdGyde recently forayed in the gaming industry with analytics tools.
"Currently our user base is 3 crore and 50 lakh monthly unique users. We are aiming to touch 10 crores total unique users by end of 2019," Gupta said.
MoMagic works with clients like Nazara Games, media groups such as Dainik Bhaskar, ABP Live News and start-ups like Hubhopper, ShoppingPost, Coutloot, Credit Mantri, DocOnline etc.
(With inputs from agencies.)