In a move aimed to strengthen its offering in digital marketing to B2B merchants and to provide innovative marketing solutions to its B2C customers, Ahmedabad-based leading ecommerce company Infibeam has acquired Bangalore-based company ODigMa. The deal which involves acquisition of 100% stake and complete ownership of the company is known to be valued at $5 million (Rs 32 crore), primarily in stock and cash. This valuation is almost 5 times the current turnover of the profit-making entity which has teams in Bangalore, Mumbai and Delhi.
ODigMa is a digital marketing company that provides strategy, digital marketing, and technical services to hundreds of companies across major retail and services sector to enhance their customer engagement and brand experiences that drives e Commerce performance in India. If you have a Facebook account, you must have at some time or the other come across ODigMa’s work. The name does not sound familiar only because most of the time their work is behind the scenes.
Infibeam’s service capabilities in online space include its B2C platform Infibeam.com which has options for buyers across 32 retail product categories, and B2B platform BuildaBazaar.com which is the commerce technology service, currently hosting more than 20000 retail stores online over the platform.
“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," said Sachin Oswal COO, Infibeam.com.
"ODigMa was started with the intent of doing highly creative marketing work that yields unprecedented results. We love to take new challenges every time we start a new assignment and work on a 'result-based' structure.", Advit Sahdev, Founder, ODigma, had told us in an interview back in 2010.
ODigMa has proven itself time and again in terms of its service capabilities and its client base of over 400 brands include names like Myntra, MakeMyTrip, Airtel, MTS, Marks & Spencer, Aditya Birla Group, HiDesign and Philips etc.
"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," said Advit.
For ODigMa, a 3-year old company, this is great news. To build a strong client base and grow up to 100 employees in such a short span of time is an achievement indeed. This also opens up a whole new set of possibilities, as competitors will now also look to vie for similar capabilities.
What do you think about the acquisition? Do you believe that other eCommerce companies will now follow suit? Let us know in the comments below.