[Industry Update] Gozoop Makes Its Second Acquisition In India, Acquires Technology Firm iThink InfoTech
Following this, Gozoop will increase its focus on technology and add to its Zozolo suite of products.
Global Digital Services and Products Company, Gozoop, announced its acquisition of iThink InfoTech, a technology and IT based agency in Mumbai. iThink InfoTech specialises in custom software development for web and mobile. This is Gozoop’s 2nd acquisition in 12 months. The company had earlier acquired a social media agency, Red Digital, in July 2013.
Gozoop’s technology focus
With this latest business acquisition, Gozoop strengthens its foothold in digital technology. This acquisition comes in sync with Gozoop’s strategy of transforming into a digital service and products company.
Commenting on the development, Rohan Bhansali, Co-Founder of Gozoop says,
“We are very excited in welcoming the team of iThink InfoTech to become a part of Gozoop. Technology and products have been our key focus and iThink’s delivery capabilities will help us move faster towards our vision.”
iThink was founded 2010 by Ishan Doshi, Ankit Sanghvi and Mayank Kothari. All 3 engineers have spearheaded iThink into an organization that provides high-end custom technology solutions for their clients such as Piramal Group, Birla Gold, Ambuja Cements, Lakhani Group, etc.
Ishan Doshi, co-founder of iThink, stated,
“Gozoop’s global presence and impressive clientele will enable us to direct our capabilities to create bigger and better technology solutions. Other than the business compatibilities, I also believe the culture compatibilities played a big role in creating this win-win.”
Implication of the iThink acquisition
Unlike the Red Digital acquisition, which grew Gozoop’s base in digital media, this acquisition enhances Gozoop’s technology foothold. iThink will continue running as a separate entity and will be the technology arm of Gozoop. Gozoop has already incubated its proprietary digital products under the umbrella brand Zozolo. Currently it has launched 3 products – ZOZOLO Social ROI, which enables brands to leverage ROI from their social media properties; ZOZOLO Social Loyalty, which enables brands to discover, engage & align their most loyal fans, thus turning them into brand ambassadors and lastly ZOZOLO Social Commerce, which enables brands to set up social e-stores under product trends & consumer behavior. Ahmed Naqvi, Gozoop, says
“Both, our Services as well as Products will benefit from iThink’s expertise. We plan on deploying iThink’s expertise to create more disruptive technology solutions under our Zozolo suite of products.”
Gozoop was founded in 2010 by Ahmed Naqvi, Dushyant Bhatia and Rohan Bhansali. With offices in 6 cities across India, UAE & Singapore, Gozoop has evolved into a leading global digital service and products company. Its clientele includes global brands such as Dell, Lipton Ice Tea, Tim Hortons, Cold Stone Creamery, Ferrari, Reliance, and Motorola. Gozoop runs its proprietary digital products under the brand Zozolo.