Fork Media, the Mumbai-based advertising technology firm, has acquired a 51% stake in Inuxu Digital Media Technologies, a 3 year old Pune based adtech company for $3 million, reports Economic Times. Fork Media confirmed the acquisition to MediaNama, but did not reveal the financial details of the transaction.
Inuxu owns a product called adgebra which provides audience segments, data management and fraud protection. The company claims to have 150 clients including American Express, Wai Wai Noodles, Horlics, Gillette, Lava Mobile and SOTC.
The ET report states that the stake is a mix of cash and equity. Inuxu will reportedly continue independent operations and develop products for Fork Media. The acquisition will be completed over 2 years and Inuxu will launch its products in Southeast Asia.
Last month, Fork Media expanded operations to Singapore, after initially expanding to Dubai in 2014. It also plans to expand to other Southeast Asia (SEA) markets including Indonesia, Thailand, Malaysia, although its SEA operations will be headquartered in Singapore. In the future, it will set up offices in Vietnam and Philippines.
In July, Fork Media tied up with Twitter to use the latter’s enterprise advertising tool Gnip. Fork Media would use Gnip to integrate Twitter’s audience data and content performance metrics with “Buzzerati”—Fork Media’s social media marketing platform. Gnip also provides managed access to data from other social networking sites as well.
Fork Media was founded by Verma and Upen Rai in 2013 as part Ant Farm, former Times Internet CEO Rishi Khiani’s incubator. Through its flagship platforms, it provides a suite of native advertising solutions for publishers that enables them to activate, deploy and manage ad placements across media properties. It claims to have publishers like HT Media, The India Today Group, The Hindu, and The Daily Mail on board its platform.
– In November last year, Fork Media launched Hauterfly, a fashion and lifestyle website targeted specifically towards millennial women in India. The website is a discovery and shopping platform for brands.
– In October last year, Fork Media acquired an undisclosed equity stake in WiFi ad network Spid, for building an alternate ad inventory space and leverage Spid’s technology. Spid is present in over 1,200 locations including major airports, restaurant and cafe. Fork Media would use Spid’s platform to determine a user’s location and deliver relevant advertising.