Oneglint Media Solutions, a Hyderabad-based photography solutions company, has announced the acquisition of Memzo, an artificial intelligence-powered photo-sharing product developed by tech solutions company Satya Digitech.
According to Oneglint, it has acquired 100% control of Memzo in an all-cash transaction.
Memzo provides AI-driven photo distribution, offering event participants the ability to instantly locate their photos by simply taking a selfie, using Memzo's face recognition AI models. With this acquisition, Oneglint aims to enhance its photography offerings and expand its reach to new markets and customers.
Oneglint plans to integrate Memzo's technology into its existing platform to provide an improved user experience. Memzo's presence across more than 20 countries will help accelerate Oneglint's expansion and better position itself in the AI-enabled photography solutions space.
Speaking about the acquisition, Oneglint co-founder and CEO Satya Ayyagari said, "Memzo has a unique and innovative solution for photo-sharing that complements our vision of creating a world-class platform for the photography ecosystem. We believe that this acquisition will create value for our customers, partners and stakeholders."
Oneglint offers a range of photography services and products, covering various event types such as sports, weddings and corporate gatherings. Using a combination of on-ground photography services and its technology platform, the company distributes photographs and videos to event participants within hours. It has also strengthened partnerships with companies such as Broadridge, Qualcomm, ZF, Procam, Wizcraft and IDFC First Bank.
"We share a common vision, and Oneglint's customer base and technology platform will strengthen and scale Memzo as a product," said Tarin Poddar, co-founder of Memzo.
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