Indian bred multinational digital agency Gozoop has made its second acquisition by taking over technology firm iThink InfoTech. The Mumbai based company, iThink InfoTech which specializes in custom software development for the web and mobile will increase Gozoop’s focus on technology products for clients.
However, there has been no word on the deal size.
According to the company, iThink will continue running as a separate entity and will be the technology arm of Gozoop, which has already incubated its proprietary digital products under the umbrella brand Zozolo.
iThink founded in 2010 by Ishan Doshi, Ankit Sanghvi and Mayank Kothari has provided high-end custom technology solutions for clients such as the Piramal Group, Birla Gold, Ambuja Cements and the Lakhani Group. Ishan Doshi, co-founder, iThink feels that other than business compatibilities between the two companies, culture compatibilities played a big role in closing the deal.
Last year Gozoop had acquired Red Digital, one of India’s popular social media agencies. The acquisition by Gozoop, founded in 2010 by the trio of Ahmed Naqvi, Rohan Bhansali and Dushyant Bhatia, has played a pivotal role in the agency’s global expansion as well as strengthening its base in India.
Like the present acquisition, there was no word on financial details of the last deal but a story at ET stated that it could be a Rs. 7 crore ($1. 17 million) deal. Though the claims made by ET were refuted by Ahmed Aftab Naqvi, Co-founder and MD, Gozoop.