NEW DELHI: Gurugram-headquartered SyncMedia on Monday announced the acquisition of media-tech company Adorithm for $1 million.
As part of the acquisition, SyncMedia, which enables marketers to accurately measure media performance and optimise it across linear and digital video, would absorb the Adorithm team, its product as well as its intellectual property/intellectual rights.
Co-founded in 2019 by Prakhar Gupta, Amit Duggal and Shashank Pathak, Adorithm uses modern day Artificial Intelligence (AI)/Machine Learning (ML) algorithms to help brand marketers, agencies and start-ups drive better performance of their media spends.
Adorithm is also based in Gurugram.
SyncMedia counts HUL, Vivo, Apple, H&M, Philips, Pizza Hut, Maruti, Ford, Pepsi, Lufthansa, Ultratech, Samsung, Mankind, and 3M among its growing list of clients.
"With this acquisition, we will be able to cater to our customers with deep insights backed by enhanced AI/ ML expertise," Anubhav Sharma, Founder and CEO, SyncMedia, said in a statement.
"Our solution provides sophisticated cause-and-effect analytics revealing the optimisation opportunities for brands, media agencies and broadcasters. We are aiming around 100 per cent growth in revenues with our increased focus on digital-first companies."
Incepted in 2017 by Sharma, SyncMedia has been delivering analytics to its customers through data-driven technology, thereby helping them in better media planning and delivery in a cost-efficient manner.