Agency acquisition is on the rise. According to IDR, Digital and Mobile marketing firm Flamingos Media Pvt. Ltd, has announced its acquisition by UAE based digital marketing firm Kreata Global.
Though there hasn’t been much clarity about the deal, it has been stated that even though Kreata Global has acquired a majority stake in Flamingos, the Kochi based firm will continue to operate independently under the new management. With this acquisition Flamingos becomes the first company to be acquired from Startup Village, Kochi, as stated by the firm on their blog.
In November 2011, the firm had started its journey from the Startup Village with three Co-Founders – Anup Mohan (CEO), Arun Kishan (CIO) and Muhammed K K (CTO). The firm today builds products for the mobile and wireless market while specializing in the field of Facebook apps, social media marketing, among others. Meanwhile the firm has grabbed some handsome clients for their work such as Asianet Global, Jos Alukkas jewellery, properties, to name a few.
For the digital agency Kreata Global - which is also a Facebook preferred marketing developer based in U.A.E. - this acquisition helps it make a strong entry to the ecommerce market in India and by absorbing the team, Facebook apps and other ecommerce marketing tools developed by Flamingos, the agency wishes to serve a bigger base of customers in the country.