Terragon Group, a Lagos-based data technology firm, recently announced they purchased Bizense, a Singapore-based mobile technology company, in a cash and stock deal. The deal is the first of its kind in Africa, according to the company.
The acquisition will allow Terragon to leverage Bizense’s expertise in mobile advertising and targeting technologies in key Asian markets where the Nigerian data analytics firm has consumer data research and development teams.
“This move has been a long time coming as it will strengthen the company’s technology offerings to its clients,” said Terragon co-founder Ayodeji Balogun in a press release. “We are united by a common culture of innovating game-changing mobile solutions – this is the unique differentiator.”
Terragon provides businesses insights for Africa’s mobile users with products designed to help clients connect with millions of consumers. The acquisition will help the company scale its digital transformation and data monetization service while integrating its marketing technology software.
“Terragon’s pan-African scale, extensive client base, and ambition is what excites us about joining the team,” said Bizense founder & CEO Amit Khemchandani. “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.”
The digital media business raised its first venture round of $5 million earlier this year from TLcom Capital Partners Lagos, Nairobi, and London based Venture Capital firm.