Advertising-technology firm SyncMedia and Adtech Pvt. Ltd said on Tuesday it has acquired Adorithm Tech Pvt. Ltd, a television-focussed media-measurement platform, for $1 million (about Rs 7.6 crore).
SyncMedia will absorb Adorithm’s team and product, as well as take full control of its intellectual property rights, Gurugram-based SyncMedia said in a statement.
The company said the move will help make its product offerings more data-driven and provide better value to customers using artificial intelligence and machine learning-based algorithms.
“Our solution provides sophisticated cause-and-effect analytics revealing the optimisation opportunities for brands, media agencies and broadcasters,” SyncMedia founder and chief executive officer Anubhav Sharma said.
Adorithm was set up last year by Prakhar Gupta, Amit Duggal and Shashank Pathak. The company helps marketers, agencies and startups measure and create better performance drives for their media spends.
SyncMedia was set up in 2017 by Sharma and Vikas Saxena. Prior to this venture, Sharma was the head of advertising for the Asia-Pacific region at Nimbuzz. He has also worked with companies including Ibibo, ESPN and Mediaturf. Saxena was the global CEO for Nimbuzz and led negotiations for the company for an investment in it by the United Kingdom-based New Call Telecom.
SyncMedia says its platform can accurately attribute several consumer touch points for clients against their key performance indicators to measure media messaging performance. It has worked with institutions including Maruti, PepsiCo, Ford, 3M, Apple and consumer goods giant Hindustan Unilever Ltd.
In April 2018, Mogae Media chairman and former founder chairman of Japanese advertising major Dentsu India Sandeep Goyal had picked up a 10% stake in SyncMedia. According to a press statement at the time, the transaction valued the company at a pre-money valuation of $3 million (Rs 19.5 crore).