Mumbai : SVG Media, a digital media network company, has fully acquired mobile video technology platform SeventyNine and performance display platform NetworkPlay from Gurner+Jahr (a unit of Bertelsmann Group). Though the deal size was not disclosed, it is estimated to be about Rs 92 crore ($15 million).
“Post the acquisition, SVG Media has become the largest advertising technology company in India with over 8 per cent market share of digital media. Furthermore, it is now reaching over 100 Million Internet users on mobile and PC,’ said a press statement.
SeventyNine and NetworkPlay will now work as independent brands along with SVG Media’s other AdTech platform Tyroo, DGM and PrecisionMatch.
SVG has platforms that can work on mobile, web and banners and is on track to earn revenue of Rs 210 crore this fiscal, according to a company executive who did not wish to be named.
SVG Media, Founder & CEO, Manish Vij, and co-founder and Chairman, Harish Bahl, said in the release it was their dream to build a platform of this scale to help advertisers meet performance marketing objectives and offer best monetisation to publishers for their mobile / PC assets.
SeventyNine’s previous co-founders Chirag Shah and Deven Dharamdasani will lead the business post acquisition. “We are very excited to be back and working with the same team at SeventyNine and are very confident of making it the largest mobile video advertising technology platform in Asia,” they said.