Barely hours after the news of 22feet’s acquisition by DDB Mudra, comes another news of acquisition in the digital marketing industry. And this time, it is the bangalore-based agency ODigMa.
Infibeam, a leading e-commerce player headquartered out of Ahmedabad, has acquired ODigMa for Rs 32 crores in stocks and cash – 5 times its current annual turnover. It is a 100% acquisition and complete ownership.
The 100-member team of ODigMa will continue to operate as a separate entity while CEO Advit Sahdev will move to Ahmedabad soon. ODigMa was a profitable agency and saw a turnover of Rs 6.2 crores till Q3 of the current financial year.
Sachin Oswal, Cofounder of Infibeam, shares:
The acquisition of OdigMa will expand our digital marketing capabilities in the key areas of social media and SEO, SEM etc. complementing our existing strengths in e-commerce technology, mobile applications, analytics, and marketing operations. Through this acquisition Infibeam will be able to offer digital marketing to thousands of our B2B merchants who use our digital commerce platform and provide innovative marketing solutions to our B2C customers.
ODigMa which is currently a profitable entity with more than 400 hundered brands will continue to render its services with current team capabilities in Bangalore Mumbai and Delhi. Infibeam through the acquisition of ODigMa intends to democratize the digital marketing and communication service in India and offer an affordable comprehensive suite of marketing, technology and analytic solutions to help improve marketing performance for its existing thousands of merchants on buildabazaar SME platform, enterprise and individual as well as potential SME’s.
Advit Sahdev , CEO of ODigMa, said:
ODigMa is pleased to be joining forces with Infibeam, one of the most innovative and leading e-commerce platform provider and retail company in India. With the largest footprint of merchants in India using Infibeam’s technology platform, we are excited to build tools and processes to deliver transformational marketing services for SMEs and Enterprise clients by attracting the best talent in the industry.
ODigMa will now offer end-to-end solutions that include e-commerce platform development and maintenance. digital and mobile marketing solutions which include search engine optimisation, web designing, web development, media planning, search engine marketing, social media marketing, mobile marketing solutions, mobile application development and performance based marketing solutions.