However, the financial details of the deals have been left undisclosed but as per reports, the deal is around $15 Mn.
According to Manish Vij, founder and CEO of SVG Media this acquisition will make them India’s largest advertising technology company with over $40 Mn in revenues and 8% market share of digital media spends in India.
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In India, the digital advertising market is about INR 3,500 Cr. at present.
Networkplay was incubated in 2008 by digital advertising agency WebChutney and was funded by Capital18, the venture capital arm of the Network18 group. It was acquired by Gruner + Jahr in 2012. Later, Networkplay had acquired Smile Vun Group backed mobile ad network Seventynine for about $7 Mn.
SVG has renewed its interest in Seventynine due to its patent-pending app jacket, an automated ad-integration technology that maximizes monetization opportunities for App Developers with premium Ad offerings.
“It has been our dream to build a platform of this scale to help our advertisers meet their performance marketing objectives and give best monetization for our publishers for their mobile / PC assets. We are doing this by affiliate marketplace, video and data products. Seventynine’s patent pending technology is one of first few mobile video platforms that deliver performance to advertisers,” said Manish Vij.
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