Pune Based Buzzfactory Acquired By US Based Qliktag Software
Pune based social media & digital consulting agency Buzzfactory today announced that it has merged with US based Qliktag Software Inc. an who offer innovative mobile software solutions to customers.
Based on our discussion with founder of Buzzfatory, Neil Sequeira, the deal was primarily an equity deal with some cash component involved. The deal was finalized just couple of days back.
Post acquisition, Buzzfactory brand will be retained and will operate as a separate Indian entity under Qliktag software Inc. The existing team of Buzzfactory will be retained in their Pune office and will be further expanded in coming months.
Buzzfactory will continue to be headed by Neil Sequeira who will assume the role of CEO and they will be joined by Jeff Ballard who comes in as Head of North America Operations at the Newport Beach office in California.
For Qliktag, acquisition was a logical extension as they had been working with Buzzfactory since start and had initially made an early angel investment of around USD 20,000 in January 2013. Qliktag held a minority stake and have now acquired complete ownership of Buzzfactory.
Buzzfactory was founded by Neil Sequeira in 2009 and has evolved over the years into a 360 degree social media and digital agency with strong capabilities and expertise in content strategy, communication, social media and the digital domain as a medium for businesses.
In regards to the acquisition, Neil Sequeira said, “The acquisition will help Buzzfactory expand its existing services into the US and global markets through developing a stronger presence there and introduce Qliktag’s technology to Asia and India where the mobile equipped consumer base is large and more businesses are looking for innovative ways to capture their attention and engage them.”
Headquartered in Newport Beach, California, USA, Qliktag Software Inc recently launched their platforms , Q*Engine, a cloud based in-store mobile engagement platform, Q*Loyalty – a mobile loyalty solution and Q*App a custom branded white-label in-store app for brands.
Dilip Daswani, CEO of Qliktag Software Inc. said in regards to the acquisition “With acquiring Buzzfactory’s creative services capabilities in deploying in-store mobile experiences using Qliktag’s technology platform, we’re essentially adding value through being able to offer a more complete innovative software plus services to customers.