Mumbai-headquartered ad tech firm Komli Media has sold a chunk of its business to Malaysian telco giant Axiata.
The owner of telco brands such as XL in Indonesia, M1 in Singapore and Axiata in Malaysia has bought the Southeast Asia operations of Komli, a traditional online ad network turned DSP, for $11.25 million, according to an announcement on Malaysia’s stock exchange.
The acquisition, which includes Komli Media’s operations in Singapore, Thailand, Vietnam, Philippines, Indonesia, Malaysia and Hong Kong, would allow the company to “skip past the formative stage of its business plan and scale up its presence and operations in Southeast Asian region,” according to Axiata.
The deal was made through Adknowledge Asia Pacific, which is part of Axiata Digital Advertising.
The news emerges just a few months after Komli’s regional VP of remarketing and mobile Ashwin Puri left the company to launch Facebook video ad serving company Liverail in Southeast Asia.