MoMAGIC acquires Spice Mobility's 49% stake in AdGyde

MoMAGIC Technologies acquires Spice Mobility's entire equity stake of 49% in AdGyde Solutions Pvt Ltd, as part of its long-term strategy of transitioning into a robust digital marketing (mobile) solutions provider with a technological edge in South East Asia region. MoMAGIC will fully absorb AdGyde within its business operations. 

AdGyde is a Mobile Apps Analytics Platform Solution, launched in the year 2017, as a joint venture between Spice Digital Limited (a subsidiary of Spice Mobility) and MoMAGIC Technologies.

Arun Gupta, Founder & CEO, MoMAGIC Technologies, said, "MoMAGIC is expanding at an aggressive pace in the Digital Ad Tech sector and the integration of AdGyde into MoMAGIC is part of our strategy to offer not only AI and Big Data driven mobile marketing services in the Ad Tech space but also provide the inter-linked solutions sought by brand heads and marketers such as monitoring, reviewing and detecting of fraud traffic and inventory."

Spice Mobility spokesperson stated, "This is in line with Spice reviewing their investment portfolios on an ongoing basis to see fitment to their future businesses and accordingly taken a call to exit."