Mumbai-based digital marketing agency Monk Media Network said on Monday it has acqui-hired boutique social media and website development company SocialGIZ.
SocialGIZ’s 10-member team will join Monk Media as part of the move. SocialGIZ founder Ameya Adhikari will join the agency as a member of its board and as vice-president of finance. The value of the deal was not disclosed.
“The team at SocialGIZ has been doing some great work,” Monk Media Network founder and chief executive officer Ashish Patkar said.
Founded in 2015, SocialGIZ says it built campaigns and websites for clients across sectors.
Monk Media Network, which was established in 2016, offers services such as content creation, deep analytics, social media video production and media strategy. According to its website, the firm has worked with clients such as Budweiser, Flipkart and HDFC Bank.
Deals in the space
Last month, Singapore-based mobile commerce and marketing solutions provider Affle Holdings Pte. Ltd acquired the platform and business interests of US-based mobile marketing company RevX Inc. In a statement, the company said the acquisition will strengthen its own platform meant for user acquisition and re-targeting.
Also in June, US-based digital marketer IntellaSphere Inc. said it had agreed in principle to buy Mumbai-based Edgytal Digital Marketing Pvt. Ltd operating in the same segment. IntellaSphere said the acquisition would see its India operations merge with Edgytal India.
In May, social media marketing solutions company At (logo: @) raised $330,000 (around Rs 2.3 crore) from angel investors, including Anupam Mittal, founder of People Group, which owns and runs online matrimony site Shaadi.com, among others.