Mumbai-based digital and social media agency Gozoop has acquired iThink InfoTech, another Mumbai-based technology and IT based agency which specialises in custom software development for mobile and web platforms, for an undisclosed amount.
While the terms of the acquisition were not disclosed. Gozoop mentions that iThink will continue to run as a separate entity and will be the technology arm of Gozoop. Gozoop co-founder & CEO Ahmed Naqvi informed that they plan to use iThink’s expertise to create technology solutions under their Zozolo suite of products.
Zozolo currently offers three products – Zozolo Social Commerce, Zozolo Social ROI and Zozolo Social Loyalty. Zozolo Social Commerce enables brand to setup social e-stores while Zozolo Social ROI enables brands to track ROI from their social presence.
Besides Zozolo suite, Gozoop also offers various end to end digital solutions like online reputation management, mobile websites, social media marketing, app development and online PR among others. Its clientele includes Dell, Lipton Ice Tea, Tim Hortons, Cold Stone Creamery, Ferrari, Reliance, and Motorola among others. Gozoop currently has offices in six cities across India, UAE & Singapore.
iThink InfoTech on the other hand, specializes in custom software development for mobile and web platforms. It offers services like SEO, web hosting, corporate designs and online marketing among others. It has clients like Birla Gold, Piramal Group, Lakhani Group and Ambuja Cements among others.
Recent Digital ad/marketing agency acquisitions
This is Gozoop’s second acquisition in the past year. It had also acquired Mumbai-based social media agency Red Digital in July last year. Post acquisition, all the Red Digital clients and employees were consolidated under the Gozoop brand.
HT Mobile Solutions had also acquired the digital marketing business Webitude for an undisclosed amount in July 2013 while Japanese advertising major Dentsu had acquired 80% stake in the digital advertising agency and consulting firm Webchutney for an undisclosed amount in May 2013.