Mobile video tech platform SeventyNine and performance display player NetworkPlay will work as independent brands
Indian digital media network SVG Media has fully acquired mobile video technology platform SeventyNine and performance display platform NetworkPlay from Gurner+Jahr (a unit of Bertelsmann Group).
The amount of the deal has not been disclosed. However, an industry report pegs it to be around US$15 million.
SeventyNine and NetworkPlay will work as independent brands along with SVG Media’s other ad tech platforms Tyroo, DGM and PrecisionMatch.
Manish Vij, Founder and CEO, SVG Media along with Co-founder and Chairman Harish Bahl, in an official statement, said, “It has been our dream to build a platform of this scale to help our advertisers meet performance marketing objectives and give best monetisation 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.” (Sic)
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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.
SeventyNine’s newly developed patent-pending app Jacket, which is an automated ad-integration technology, is a major attraction for SVG Media. The product maximises monetisation opportunities for app developers with premium ad offerings.
For backgrounder, Gruner+Jahr acquired Networkplay in 2012, which was incubated in 2008 by digital advertising agency Webchutney and funded by Capital18. Later, it acquired SeventyNine from SVG Media, which has now been bought back.
Image Credits: Kritchanut/ Shutterstock
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