Imagine Marketing Private Limited (parent company of boAt) announced that it had signed a definitive agreement to acquire Singapore based KaHa Pte Ltd, an end-to-end intelligent IoT product development company.
Imagine Marketing will be able to expand its wearable product offerings in terms of concept, design, electronic firmware, algorithm development, Android/ iOS applications, new feature integration, social engagement, and analytics, as well as lead the way in creating a vibrant ecosystem for the Indian consumer, as a result of the acquisition.
This purchase will help Imagine Marketing expand out its innovative and holistic wellness wearables platform and further develop to provide features tailored to the Indian customer.
KaHa, founded in 2015, has experience developing IoT products and has a technology-focused platform for wearables with patented AI and ML capabilities, end-to-end intelligent wearable solutions (hardware and software), and data-driven innovative IoT platforms that provide solutions and analytics for a variety of use cases.
It has offices in Singapore, India, and China. KaHa Pte Ltd has a patented and encrypted technological stack and has filed over 30 patent applications. It also has over 90 professionals and topic specialists on staff. For two years in a row, 2020 and 2021, the firm got the coveted Clarivate award for Innovation.
The purchase is intended to strengthen IMPL’s ability to launch technologically innovative goods and decrease the time it takes for an ecosystem to play a role in wearables. India’s wearables (smartwatches and activity bands) industry is predicted to more than double to USD 2-4 billion by 2025, up from roughly USD 0.2 billion in 2018.
Within a year of its inception, the brand boAt has become one of the leading players in this area and one of the top two players in the smartwatch category, with a market share of more than 20%.
Imagine Marketing aspires to be a part of a more extensive lifestyle-oriented play in India’s wearables ecosystem, driven by customers’ growing health consciousness and need for convenience.
Imagine Marketing has increased its R&D focus through boAt Labs, a dedicated 25+ member team with experience in many aspects of audio and wearable device development. Imagine Marketing’s awareness of the consumer and category landscape, along with KaHa Pte Ltd.’s strong IoT capabilities, will aid in developing intelligent goods with a holistic wellness emphasis that improves customers’ quality of life.
The purchase is intended to expand Imagine Marketing’s product offering capabilities, hence fuelling the next generation of IoT enabled smart wearables that are more adaptable, customised, and inexpensive.
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