Paytm has announced that it has acquired Delhi-based tech startup Cube26. The company says that this acquisition will help Paytm by leveraging the work Cube26 has done in consumer engagement products in the Social and Content domain.
Once the deal is finalized, Cube26 team will join Paytm. The companies did not disclose the financial details of the deal. If you look closely, Paytm was been working closely in building social media products and content focused on consumer engagement.
As for Cube26, the company has customized Android OS and developed varied applications for original equipment manufacturers. The company claims Tiger Global and Flipkart as its investors.
Saurav Kumar, Chief Executive Officer and Co-founder, Cube26 said:
Our team has been building technology products that are used by millions of users. I believe our diversified experience in creating smarter products across software and hardware segment will help add value to Paytm and to several of its products and services.
Madhur Deora, Chief Financial Officer, Paytm said:
We are excited to welcome the Cube26 team onboard. With this acquisition, the Cube26 team will work with the Paytm team to add more social engagement features to our products and services.