As part of the acquisition, SyncMedia would absorb the team, product, and intellectual property (IP)/intellectual rights (IR) of Adorithm.
Tech platform SyncMedia has announced the acquisition of the media-tech company, Adorithm. As part of the acquisition, SyncMedia would absorb the team, product, and intellectual property (IP)/intellectual rights (IR) of Adorithm for $1 million.
With this acquisition, SyncMedia aims to derive enhanced capabilities to make its product offerings more data-driven and provide better value to their customers using artificial intelligence (AI)/ machine learning (ML) algorithms. Data-driven insights along with understanding performance and impact on business KPI will help in identifying and planning TV upfronts for better targeting of linear TV campaigns. This will allow brands to optimize spends across screens. SyncMedia has been delivering superior analytics to its customers through data-driven technology thereby helping them in better media planning and delivery in a cost efficient manner.
Elaborating on the acquisition and future plans, Anubhav Sharma, Founder and CEO, SyncMedia, said, “SyncMedia has been a forefront media company with a strong market presence in terms of knowledge, leadership, sales and services supporting 100 plus brands, including HUL, Vivo, Apple, H&M, Philips, Pizza Hut, Maruti, Ford, Pepsi, Lufthansa, Ultratech, Samsung, Mankind, and 3M, within a short span of three years. With this acquisition, we will be able to cater to our customers with deep insights backed by enhanced AI/ ML expertise. Our solution provides the sophisticated cause-and-effect analytics revealing the optimisation opportunities for brands, media agencies and broadcasters. We are aiming around 100% growth in revenues with our increased focus on digital-first companies.”
Co-founded in 2019 by Prakhar Gupta, Amit Duggal and Shashank Pathak, Adorithm uses modern day AI/ML algorithms to help brand marketers, agencies and start-ups drive better performance of their media spends.
On the acquisition, Prakhar Gupta, Co-founder, Adorithm, said, “Several companies across industries are investing sizeable amount of money in marketing and still rely on traditional methods to evaluate performance. This makes it difficult for them to calculate return on investment (ROI). Within a short span of time, SyncMedia has already made a big mark by introducing the new way of advertising and now with added capabilities, we are confident that the marketers would follow such models of evaluating results.”
(We got this information from a press release.)