Nigerian data analytics company Terragon Group has announced that it has acquired Singaporean mobile advertising company Bizense.
In a statement on Monday (12 November), the Lagos-based company did not disclose how much it had acquired Bizense for. However, Terragon stated that the acquisition deal was a “cash plus stock deal” which it went on to claim as “the first of its kind and scale in Africa”.
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Bizense’s flagship product is a mobile advertising platform for telcos, large publishers and advertising networks called Adatrix. The deal will enable Terragon to further adapt and integrate Bizense’s marketing technology software for financial services institutions and consumer brands across Africa.
Terragon entered into a joint venture with Singapore-based Bizense in 2015 which led to the development of Terragon’s Adrenalin platform
‘The acquisition will help Terragon scale its digital transformation and data monetisation service which it currently provides to a number of leading African telcos,” the company explained.
In April, the data analytics firm secured secured a $5-million investment from venture capital firm TLcom which CEO Elo Umeh (pictured above) had indicated would be used to invest in human capital and the company’s proprietary marketing technology platform Adrenalin — which Bizense helped Terragon develop in a joint venture in 2015.
Terragon CTO and co-founder Ayodeji Balogun said the deal “has been a long time coming” and will strengthen the company’s tech offering to its clients.
“Bizense is a perfect fit for us as we’ve had time to grow our partnership and ascertain compatibility. We are united by a common culture of innovating game-changing mobile solutions — this is the unique differentiator,” said Balogun.
Read more: TLcom $5m investment two years in the making says Terragon CEO Elo Umeh
Featured image: Terragon Group CEO Elo Umeh (Supplied)
