New Delhi, Jan 14 (PTI) Imagine Marketing, the parent company of earwear brand boAt, on Friday said it will acquire Singapore-based KaHa Pte, an end-to-end smart IoT product development company, for an undisclosed amount.
It has signed a definitive agreement to acquire KaHa, a move that will help to create next-generation IoT-enabled wearable products and ecosystem, Imagine Marketing said in a statement.
“This acquisition is expected to allow Imagine Marketing to scale up its smart and holistic wellness wearables platform, and further innovate to come up with features with the Indian consumer in mind,” the company said.
Founded in 2015, KaHa has operations across Singapore, India and China. It has capabilities in developing products in the internet of things (IoT) space and has a technology-focused platform for wearables through patented artificial intelligence (AI) and machine learning (ML) capabilities.
Imagine Marketing co-founder and Chief Product Officer Sameer Mehta said, “Our acquisition of KaHa, a technology-focused platform for wearables through patented AI and ML capabilities will capture all aspects including vitals, fitness, social and mental health along with providing lifestyle features like gamification, enabling payments etc.” He added that by leveraging KaHa’s capabilities, the company will be able to create a smart wearables ecosystem with powerful functionality at affordable prices that truly benefit the consumers.
The wearables (smartwatch and activity bands) market in India is expected to grow more than 10 times to USD 2-4 billion in size by 2025 from around USD 0.2 billion in size in 2018. PTI KRH HRS hrs