SyncMedia would absorb the team, product, and intellectual property (IP)/intellectual rights (IR) of Adorithm
Tech platform SyncMedia has announced the acquisition of the media-tech company Adorithm. As part of the acquisition, SyncMedia would absorb the team, product, and intellectual property (IP)/intellectual rights (IR) of Adorithm for $1 million.
According to the tech platform, the acquisition will help derive enhanced capabilities to make its product offerings more data-driven and provide better value to their customers using artificial intelligence (AI)/ machine learning (ML) algorithms. “Data-driven insights along with understanding performance and impact on business KPIs will help in identifying and planning TV upfronts for better targeting of linear TV campaigns. This will allow brands to optimize spends across screens,” SyncMedia said in an official communication.
With this acquisition, we will be able to cater to our customers with deep insights backed by enhanced AI/ ML expertise, Anubhav Sharma, founder and CEO, SyncMedia, said. “Our solution provides cause-and-effect analytics revealing the optimisation opportunities for brands, media agencies and broadcasters. We are aiming around 100% growth in revenues with our increased focus on digital-first companies,” he claimed.
According to Prakhar Gupta, co-founder, Adorithm, several companies across industries are investing a sizable amount of money in marketing and still rely on traditional methods to evaluate performance. “This makes it difficult for them to calculate return on investment (ROI). With added capabilities, SyncMedia will enable marketers to follow such models of evaluating results,” he stated further.
Founded in 2017, SyncMedia is a tech platform offering solutions that enables marketers and media owners to optimise their entire portfolio of linear TV, OTT and digital video advertising by measuring how the ads performed against in-market sales prospects. SyncMedia’s client portfolio includes several brands such as HUL, Vivo, Apple, H&M, Philips, Pizza Hut, Maruti, Ford, Pepsi, Lufthansa, among others.