Africa’s leading data and marketing technology firm, Terragon, at the weekend said it has acquired Bizense, a Singapore-based mobile technology giant, in a cash plus stock deal which is the first of its kind and scale in Africa.
This deal will see Terragon control its intellectual property assets globally, enabling it further adapt and integrate its marketing technology software for financial services institutions and consumer brands across Africa.
Terragon’s Founder and CEO, Elo Umeh, said due to lack of options, most African businesses are left to depend on licensed technology built for other markets.
With the peculiarities and associated problems Africans are faced with on mobile devices remaining unsolved, Terragon is taking the lead in mobile and digital transformation through best in class software, top talent in artificial intelligence and machine learning, as well as product innovation, to provide custom solutions.
Umeh had earlier in the year indicated that the company will invest its freshly raised $5million in human capital and technology.
Bizense has core expertise in mobile advertising and targeting technologies with operations in key Asian markets including India, Singapore and Indonesia.
The acquisition will help Terragon scale its digital transformation and data monetisation service which it currently provides to a number of leading African telcos.
Founder & CEO, Bizense , Amit Khemchandani, said Terragon’s pan-African scale, extensive client base and ambition is what excites the firm about joining the team.
Amit said: “The similarities between Africa and South East Asian markets and the unmatched technology we have co-developed provide a tremendous opportunity for us to capitalise on the momentum we’ve built over the past few years.”
Source: The Nation