Indigenous African Tech companies, With the exception to South African, acquisitions of any kind—intra-continental or international—are a rarity. However, Terragon’s acquisition in Singapore, and other moves made by several other Nigerian startups this year, could change that.
Nigerian consumer data analytics firm Terragon Group has acquired Asian mobile marketing company Bizense in a cash and stock deal, reported TechCrunch. The first of its kind and scale in Africa. This deal will see Terragon control its intellectual property assets globally.
Based in Singapore, with operations in India and Indonesia, Bizense specializes in “mobile ad platform[s] for Telco’s, large publishers, and [e-commerce] ad networks” under its proprietary Adatrix platform—according to its website and a release.
With its Headquarter in Lagos, Terragon’s software services give its clients who are primarily telecommunications and financial services companies — data on Africa’s growing consumer markets, and has been a primary player in this sector.
Products allow users to drill down on multiple combinations of behavioral and demographic information and reach consumers through various campaigns while connecting to online sales and payments systems.
Terragon clients include local firms, such as Honeywell, and global names including Unilever, DHL, and international agribusiness firm Olam.
The company’s founder and CEO Elo Umeh sees cross-cutting purposes for Terragon services in other markets.
“Most of the problems we seek to solve for our clients in Africa also exist in places like South East Asia and Latin America,” Umeh told TechCrunch.
The Bizense acquisition doesn’t lessen Terragon’s commitment to its home markets, according to Umeh.
“We are…super focused on Africa right now, building out propriety platforms powered by data and artificial intelligence to help Telco’s, SMEs, FMCGs and financial institutions …increase their customer base and drive more transaction volumes,” he said.
With the Bizense acquisition Terragon plans to “build out platforms, tools and machine learning models to help businesses…acquire new customers and get existing customers to do more.”
Bizense founder and CEO Amit Khemchandani will be involved in this process. “We are excited about the next phase of this journey as we innovate for Africa and other emerging markets,” he said.
Tarragon already has a team of 100 employees across Nigeria, Kenya, Ghana and South Africa. This recent move to acquire Bizense is a giant step in going inter continental. Terragon’s CEO, Umeh had indicated the company is contemplating further expansion in Asia and the Latin America, where Terragon already has consumer data research and development teams.
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