SyncMedia buys media tech start-up Adorithm for USD 1 million

SyncMedia, the Gurugram-based firm offering full-suite analytics & advertising services, has reportedly acquired media-tech company Adorithm for USD 1 million. 

Sources familiar with the knowledge of matter cite that SyncMedia will acquire Adorithm’s products and intellectual property or intellectual rights. All Adorithm’s employees will also join SyncMedia following the acquisition.

For the record, SyncMedia empowers broadcasters as well as advertisers to accurately measure media performance to optimize brand impact across linear as well as digital video.

Since its inception in 2017, SyncMedia has been offering analytics to its customers through data-driven technology. This has helped brands to efficiently manage media planning and delivery. The company offers services to leading brands across the world including Vivo, HUL, H&M, Apple, Philips, Pizza Hut, H&M, Ultratech, Samsung, Lufthansa, Mankind, Ford, Pepsi, Maruti, 3M, etc.

On other hand, co-founded in 2019 by Shashank Pathak, Amit Duggal, and Prakhar Gupta, Adorithm leverages Artificial Intelligence (AI)/Machine Learning (ML) algorithms to empower brand marketers, start-ups, and agencies to accelerate the better performance of their media spends.

Speaking on the acquisition, Anubhav Sharma, CEO, and Founder of SyncMedia said that this acquisition has enabled the company to serve customers with deep insights backed by improved AI/ ML expertise.

Mr. Sharma added that the company’s solution offers sophisticated cause-and-effect analytics, delivering the optimization opportunities for media agencies, brands, and broadcasters. The company is aiming around 100% growth in revenues with its increased focus on digital-first companies, he stated.

As customers are spending a considerable amount of time on watching content online, the traction on online videos and TV viewing has increased during the current pandemic. Brands have started spending on ads to take benefits of this situation.

As budgets are tight, brands are also focusing on optimizing their spending and thus they increasingly measure the performance of their campaigns. Consequently, this has increased the demand for analytics & advertising services companies like SyncMedia.

Source Credit - https://www.newindianexpress.com/nation/2020/jun/15/gurugram-based-syncmedia-acquires-adorithm-for-1-million-2156948.html