Amagi Datalabs, a media-focused SaaS unicorn, has acquired Argoid AI, an AI-driven SaaS business based in California, for an undisclosed sum

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Argoid enables media companies to create personalized experiences to their users by providing a real-time AI-driven recommendation system for movies & TV series

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The SaaS unicorn intends to use Argoid AI's powerful algorithms to improve its product suite Amagi NOW and CLOUDPORT

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Amagi stated that the acquisition will help it improve its content planning, distribution, and monetization options

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It will also enable Amagi to expand its AI-powered content programming, metadata enrichment, and recommendation engine offerings

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Argoid AI's cofounders will join Amagi following the acquisition

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Amagi, founded in 2008 provides clients with a full stack cloud suite for content creation, distribution, and monetization on a worldwide scale

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It also provides broadcast and targeted advertising solutions for broadcast and streaming television channels

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According to Amagi’s financial report for FY23, the company reduced its net loss by 70% to INR 321.2 Cr in FY23, down from INR 1,078.5 Cr the previous year

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Revenue from operations increased by 58% to INR 680.6 crore in the fiscal year under review, up from INR 431 crore in FY22

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