New Delhi [India], April 5 (ANI/ATK): Velotio Technologies, a leading product engineering & digital solutions company, today announced its business 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, said, “Our team has done a fantastic job over the years and built a stellar reputation in the Home Entertainment, Video Streaming industry. We are thrilled to join forces with Velotio, with a shared culture of innovation and commitment to quality. By integrating our Media & Mobile capabilities with Velotio, we will be able to unlock new growth opportunities while serving our existing customers even better.”
Kalpak Shah, CEO at Velotio, said, “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 the company’s media & mobile engineering group.
Chirag Jog, CTO at Velotio, further added, “We have a lot of respect for how Media Magic built their business from the ground up. As part of the acquisition, the Media Magic team of mobile and cross-platform experts with unique development skills in Audio / Video streaming, codecs, iOS, Android, React-native, and Flutter will join Velotio. 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 revenue of 100 crores with a consistent 60 per cent 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 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-plus engineers, Velotio has a global clientele including NASDAQ-listed enterprises, unicorn startups, YCombinator and Sequoia funded companies, and cutting-edge product companies. For more information, visit www.velotio.com.
Media Magic Technologies is a product engineering company specialized in developing products & digital solutions in the Mobile, Media & Entertainment industry.
The company harnesses niche technologies to build innovative digital products in the space of Home Entertainment (Connected Audio, Smart TV, Hearables, Streaming) and Smart Home (Security, Appliances, Home Automation) for clients in the US and Europe.
For more information, visit www.mediamagictechnologies.com.
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