Prior to the acquisition, MoMagic held a 51% stake in AdGyde, while Spice Mobility held a 49% stake.
Talking about the acquisition, Arun Gupta, Founder and CEO, MoMagic, said, “100 per cent stake acquisition in AdGyde is 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.”
The latest acquisition is a part of MoMagic’s long-term strategy to transition into a robust digital marketing solutions provider with the use of latest technology.
Post acquisition, MoMagic will completely absorb AdGyde within its business operations.
Founded in 2011 by Arun Gupta, MoMagic provides a one-stop integrated marketing platform to help its clients across various platforms in a hassle-free and effective manner.
Some of MoMagic’s clients include Nazara Games, media groups such as Dainik Bhaskar, ABP Live News and start-ups like Hubhopper, ShoppingPost, Coutloot, Credit Mantri, DocOnline etc.
MoMagic is backed by electronics manufacturing giant Foxconn and chipset maker MediaTek.
AdGyde offers a one-stop solution to track optimization and monetization of mobile applications. It offers a number of metrics, helping with real-time mobile app analytics and attribution solutions.