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…
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