Singapore and Gurugram-based consumer intelligence company Affle’s India unit (Affle India) has acquired a part of Bengaluru-based digital CRM startup Vizury for about $10 million.
As part of the deal, Affle has taken over retargeting and push notification verticals of Vizury. The product, technology, sales, marketing, account management and related team of aforementioned verticals will now join Affle, reports ET.
Both firms are yet to announce the deal, however, the Vizury’s about us page automatically redirects to Affle’s about us page.
Entrackr had sent a query to Vizury team regarding the acquisition. We’ll update the post as the response comes in.
Founded in 2008 by Chetan Kulkarni, Gaurav Chindlur and Vikram Nayak, Vizury is a growth marketing platform that drives user retention and incremental conversions for e-commerce, banking, financial services, insurance, and travel brands.
The startup, which rechristened itself to Lemnisk in April, this year, has so far raised around $25-27 million in funding from Ascent Capital, NGP Capital, and Inventus Capital Partners.
Following the rebranding, the startup has now turned its focus primarily on to the financial services sector. However, Affle will use the retargeting and push notification verticals of Vizury through this acquisition.
The development comes a month before when Affle’s Indian unit is expected to raise approximately Rs 650 crore through its initial public offering.
Citing sources, the report further added that Affle India along with its parent entity Affle Holdings has already raised over Rs 136 crore as pre-placement offer form Malabar Investments. Following the deal, Malabar would pick up over 7 per cent stake in the company.
For uninitiated, Affle is a global technology firm that offers a proprietary consumer intelligence platform that delivers consumer acquisitions, engagements and transactions through mobile advertising
It also provides end-to-end solutions for enterprises to enhance their engagement with mobile users, such as developing apps, enabling offline to online commerce including several other features.
Microsoft is a minority stake holder in Affle Holdings. Besides, it also counts D2C, DoCoMo, Dentsu, BCCL, among others as investors.