Velotio Technologies acquires Media Magic Technologies to expand its Mobile and Media engineering capabilities
Velotio Technologies, a leading product engineering & digital solutions company, today announced its acquisition of Media Magic Technologies, a leader in the Media & Mobile engineering domain. This acquisition strengthens Velotio’s capabilities and broadens its product engineering offerings in the Media, Entertainment & Mobile space.
With this acquisition, the Media Magic team will join Velotio and expand the Media & Mobile business. Media Magic works with global customers, including NASDAQ-listed companies, on innovative deep-tech and product engineering projects.
Kapil Agrawal, Founder and CEO at Media Magic Technologies, shares, “Our team has done a fantastic job over the years and built a stellar reputation in the industry. We are thrilled to join forces with Velotio. We share a culture of innovation and commitment to quality which will benefit our clients. By integrating our capabilities with Velotio, we will be able to unlock new growth opportunities while serving our existing customers even better.”
Kalpak Shah, CEO at Velotio, further adds, “This is an exciting milestone on Velotio’s growth roadmap. Media Magic is a great match for us on every level. With this acquisition, we expand an industry vertical and gain specialist knowledge within media and mobile technology.”
The CEO of Media Magic will join the leadership team of Velotio as “Head, Mobile & Media” to expand their media & mobile engineering group.
Chirag Jog, CTO at Velotio, shares excitedly, “We have a lot of respect for how Media Magic built their business from the ground up. As part of the acquisition, we are onboarding 24 mobile and cross-platform experts from their team with unique development skills in Audio-Video tech, iOS, Android, React-native, and Flutter. This gives us the ability to extend our services portfolio and provide world-class technical expertise to our combined clientele.”
Maturing past the 5-year milestone, Velotio recently clocked revenues of 100 crores with a consistent 60% YoY growth. The strategic acquisition of Media Magic builds on Velotio’s momentum of expanding into additional industry verticals while expanding its core leadership team.
Velotio continues to explore organic and inorganic growth opportunities with other product development companies that may be interested in joining forces.
This press release is originally published on ThePrint. Read the complete article here.
Velotio Technologies is a leading software engineering company working with innovative startups and enterprises across the globe. The company specializes in building digital products in the cloud-native, data engineering, B2B SaaS & Machine Learning space.
Currently, with a team of 275+ engineers, Velotio has a global clientele including NASDAQ-listed enterprises, unicorn startups, YCombinator and Sequoia funded companies, and cutting-edge product companies.
About Media Magic:
Media Magic Technologies is a product engineering company specialized in developing products & digital solutions in the Mobile, Media & Entertainment industry.
The company helps businesses to transform, scale and gain competitive advantage, through the expert delivery of innovative, tailor-made solutions. For more information, visit mediamagictechnologies.com.