Affle India, a mobile marketing company, has acquired the commerce business of Vizury, which includes its re-targeting media and push notification CRM platform. Affle will use the Vizury business for its consumer platform for mobile advertising.
Vizury told MediaNama that Lemnisk, its growth marketing platform for enterprise financial services is not a part of this deal. Lemnisk was previously known as Vizury Engage and claims to have clients in HDFC Bank, ICICI Prudential, Max Bupa, Coverfox etc.
In the current acquisition, all Vizury commerce employees, assets and customer contracts will be transferred to Affle. Affle has reportedly acquired the business for $10 million, but neither company has disclosed the financial details of the deal.
Founded in 2008 by Chetan Kulkarni, Gaurav Chindlur and Vikram Nayak, Bangalore based Vizury is a mobile marketing company. It claims to have clients across travel and hospitality, e-commerce, healthcare, automobile, financial services and classifieds in India, Middle East and Africa (MEA) and the US, among other geographies. In 2015, Vizury laid off around 50 people in 3 cities in its ad retargeting business, and pivoted its business model to a data management platform (DMP) business.
Vizury’s previous funding
Vizury has raised $27 million in all:
- It raised angel funding in March 2009 and Series A funding in October 2010.
- In October 2012, it raised $9 million in Series B funding from Nokia Growth Partners, Ojas Venture Partners and Inventus Capital Partners.
- In 2014, it raised $16 million in Series C funding led by Intel Capital, with participation from Ascent Capital, Nokia Growth Partners and Inventus.
Affle’s IPO plans
Affle is expected to raise Rs 650 crore by going public, but there is no fixed announcement date for this. It has already raised over Rs 136 crore as pre-placement offer from Malabar Investments, amounting to a 7% stake.
Founded in 2006 by Sohum and Anuj Kumar, Affle is a mobile marketing and analytics company. It has 7 offices globally with over 180 employees. In 2014, Affle acquired app development company Appstudioz, while earlier in 2012, it partnered with Yahoo India to sell the latter’s mobile ad inventory.