boAt To Acquire Delhi-based Consumer Electronics Brand Tagg Digital
boAt, a consumer electronics startup, is all set to acquire Delhi-based consumer electronics brand Tagg Digital.
Started by Amitesh Bharadwaj, Rohit Dhingra, and Saurav Prakash, Tagg is an Indian consumer electronics brand that offers wireless earphones, buds, smartwatch, earphones and speakers.
First reported by Entrackr, citing two sources, boAt is in the final stages to acquire Tagg Digital, with deal size being anywhere between $5-8 million.
One of the sources requesting anonymity said,
“boAt has been in conversation with Tagg for over two months, and the contours of the deal is finalised.”
He added that post completion of the deal, Tagg’s team and co-founders would join boAt.
With a strong presence in the true wireless stereo headphone (TWS) and Bluetooth speaker segment, boAt, with this deal, is looking to further strengthen its dominance in this segment. According to a report by Counterpoint, boAT had a 28% market share in the TWS segment during the last quarter.
boAt is building R&D and local manufacturing capabilities and raised $100 million in January 2021 and Rs 440 crore in its Series B round in December 2020.
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