Flamingos Media Pvt Ltd, a digital and mobile marketing firm based out of the Kochi Startup Village, has been acquired by India- and UAE-based Kreata Global Digital Media Service Pvt Ltd. The financial details of the transaction, which is expected to be closed in a week's time, are not disclosed. The acquisition will help Kreata expand its footprint in the e-commerce space in India.
Although several ventures incubated at Startup Village have gone ahead and raised angel and seed funding, this is the first one to be acquired.
"The transaction is almost complete and we are awaiting a formal announcement from Kreata. However, we can't disclose the details at this point in time, as we have signed a non-disclosure agreement (NDA) with the firm," Flamingos co-founder Anup Mohan told Techcircle.in. "Post acquisition, we will continue to operate independently under the new management," he said.
Flamingos was founded in November 2012 by six friends, including Anup Mohan (CEO), Muhammed KK (CTO), Arun Kishan (CIO), Nitheesh Mohan (social media manager), Bagyanath PG (accounts manager) and Dhanesh Mahesan (interface designer). The firm offers mobile apps, social media & viral marketing, short-form videos and mobile services to various enterprises. Its key clients include Asianet TV, Jos Alukkas Jewellery, Pulimoottil Silks and Jay Spices & Food Products. Additionally, it is developing various e-commerce marketing tools to help businesses acquire new customers, increase sales and improve conversion rates. The firm is also planning to launch a virtual trial room for e-commerce companies in the country.
Kreata offers digital marketing solutions across the UAE. It offers customised tools and devices catering to the clients' needs such as Facebook and other social media applications, game development featuring flash games and advert games, and rich media ads to enable them to promote their brands. The firm has offices in Kochi and Bangalore in India. It has also partnered with Al Khaleej Business Communications to offer digital solutions in the UAE.
(Edited by Joby Puthuparampil Johnson)