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SaaS unicorn Amagi acquires Argoid AI

EntrackrEntrackr ยท 1y ago
SaaS unicorn Amagi acquires Argoid AI
Medial

Amagi, a cloud media SaaS technology firm, has announced the acquisition of Argoid AI, an AI company specializing in recommendation engines and programming automation for OTT platforms. By integrating Argoid AIโ€™s advanced algorithms into Amagiโ€™s existing platform, this acquisition will significantly boost the functionality of Amagiโ€™s product suite, Amagi NOW and CLOUDPORT offerings. This will enable the media companies to make faster, smarter, and personalized content scheduling decisions at scale. With the acquisition, Argoidโ€™s founders, Gokul Muralidharan, Soundararajan Velu, and Chackaravarthy E, will join the Amagi team. Argoid AI has developed innovative AI products that enhance content recommendations and enable real-time programming decisions. According to the company, its solutions have been pivotal in increasing viewer engagement and optimizing channel operations for customers in the streaming media space. Amagi has emerged as a rare comeback story in the B2B SaaS space. The company pivoted in 2018 from providing advertising solutions for local businesses on television channels to a SaaS-based monetization platform for TV networks and content owners. Amagi achieved unicorn status after securing $95 million in a new funding round led by existing investor Accel in March 2022 along with an additional $110 million in November. According to media reports, it was in discussions to raise $250 million in a forthcoming round. According to data intelligence platform, TheKredible, Amagiโ€™s revenue from operations spiked to Rs 879.15 crore during the last fiscal year from Rs 680 crore in FY23.

Sportskeedaโ€™s parent Absolute Sports acquires assets of SoapCentral.com

EntrackrEntrackr ยท 1y ago
Sportskeedaโ€™s parent Absolute Sports acquires assets of SoapCentral.com
Medial

Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com and ProFootballNetwork.com, is close to acquire all of the assets of SoapCentral.com, a premier source of entertainment content in the US. The transaction is for an all-cash consideration of $1.4 million about Rs 11.6 crore and is expected to be closed in the next 30 days. In CY23, SoapCentral.com had revenues of $621,000 about Rs 5.2 crore. Absolute Sports will use its cash reserves to fund the transaction. This is the second acquisition for Absolute Sports in the US sports media market. Earlier this year, Absolute Sports had acquired a 73.27% stake in US-based Pro Football Network LLC. Absolute Sports, via its flagship brand Sportskeeda, covers sports and esports subjects and serves more than 100 million fans every month. In 2019, Nazara, listed on the stock exchanges, picked up a majority stake in the company, which was then a 10-year old business. With more than an average of 5 million unique monthly active users, Pro Football Network is widely recognized as one of the NFL-focused sports sites in the country. The company already operates SK Pop (Pop-Culture) and has experience scaling entertainment content under the SK-Pop banner. The company expects to unlock synergies with its content scaling and operating playbooks to establish Soap Central as a leading entertainment content destination for fans in the US.

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