Gozoop makes its second acquisition in India- iThink InfoTech
Mumbai based digital services and products company, Gozoop, has announced its acquisition of iThink InfoTech, a technology and IT based agency.. 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 (read their story we covered in 2012). The amount has not been disclosed.
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 led iThink into an organization that provides custom technology solutions for their clients such as Piramal Group, Birla Gold, Ambuja Cements, Lakhani Group, etc. iThink is a 15 member team at the moment.
The Red Digital acquisition was more inline with the digital media area while 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 and align their most loyal fans
ZOZOLO Social Commerce, which enables brands to set up social e-stores under product trends & consumer behavior.
Gozoop was founded in 2010 by Ahmed Naqvi, Dushyant Bhatia and Rohan Bhansali. With offices in 6 cities across India, UAE and Singapore. “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.” says Ahmed Naqvi, Gozoop. The rise of digital has scene an upswing in the number of digital agencies coming up across the globe. Gozoop has maintained a good balance between services and products and this acquisition strengthens their product side further.