Terragon, Africa's leading data and marketing technology company, announced that it has acquired a Singapore based mobile communications technology company with a cash-flow transaction, the first of its kind in Africa.
In this deal, Terragon will see its asset control assets globally, allowing it to further adapt and integrate its marketing technology software to financial services institutions and consumer brands throughout Africa.
Elo Umeh, the founder and CEO of Terragon, said: "Given the lack of opportunities, most African businesses need to rely on licensed technology set up for other markets. Taking into account the peculiarities and the associated challenges faced by Africans with unshielded mobile devices, Terragon takes the lead mobile and digital transformations, using the best-in-class software, high talent in artificial intelligence and machine translation, and product innovations to deliver tailored solutions. "
This acquisition will help Terragon measure the digital conversion and data monetization service currently provided to a number of leading African telecommunications companies.
"We are now fully aligned and focused on the development of platforms, tools and machine training models to help businesses in Africa get new customers and enable existing customers to do more," said Amit Khemchandani, Business Founder and CEO.
"We are excited about the next round of this journey, as we innovate for Africa and other emerging markets."
Terragon has taken this strategic step to lead the market by expanding its investment in software to be flexible in adapting its services to customers by protecting consumer data and the value chain of its partners in the digital age.
In 2015, Terragon launched a joint venture with Bizense to build its proprietary mobile ad serving technology for Africa. Collaboration has led to the development of other marketing technologies, including the adrenaline platform, which provides data-driven web and non-marketing services to leading brand and financial services companies on the continent.