In a deal that can be described as the first of its kind and scale in Africa, Terragon Group, an African data and marketing technology company, announced it had acquired Bizense, a Singapore-based mobile technology company.
The acquisition will enable Terragon adapt and integrate its marketing technology software for financial services institutions and consumer brands across Africa.
According to Terragon’s CEO, Elo Umeh, “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”.
Bizense, which has operations in India, Singapore and Indonesia, has core expertise in mobile advertising and targeting technologies. This will help Terragon scale its digital transformation and data monetization service which it currently provides to a number of leading African Telcos.
Bizense Founder & CEO, Amit Khemchandani said “Terragon’s pan-African scale, extensive client base and ambition is what excites us about joining the team. The similarities between Africa and South East Asian markets, and the unmatched technology we have co-developed provides a tremendous opportunity for us to capitalize on the momentum we’ve built over the past few years”.
Amit adds that “now we are fully aligned and focused on building out platforms, tools and machine learning models to help businesses in Africa acquire new customers and get existing customers to do more. We are excited about the next phase of this journey as we innovate for Africa and other emerging markets”.
This deal has motivated Terragon to increase its investment in software, so as to ensure flexibility in customizing services to clients, protecting consumer data with the best in class security and enriching the data and value chain of its partners in the digital age.
Terragon’s CTO and Co-founder, Ayodeji Balogun said “this move has been a long time coming as it will strengthen the company’s technology offerings 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”.
In 2015, Terragon, which helps companies in Africa drive continuous growth by providing intelligent connections to consumers on mobile web and non-web channels, entered into a joint venture with Bizense to build its proprietary mobile ad serving technology for Africa.
Terragon Group currently hosts the largest database of audiences in Africa with over 80 million people online and offline.