MAM
Gruner + Jahr’s Networkplay buys out Seventynine
MUMBAI: Gruner + Jahr‘s Indian entity Networkplay has bought out Smile Vun Group‘s mobile ad network Seventynine.
Seventynine is G+J‘s second digital acquisition in India after Networkplay, which was acquired by G+J earlier this year.
According to the company, Gruner + Jahr intends to strengthen its digital presence in the Indian market. This new acquisition will help G+J and Networkplay fortify their competence and position in the mobile space.
Seventynine will be an independent business unit under the Networkplay umbrella, with its management reporting directly into the board.
The co-founders of Seventynine, Chirag Shah and Deven Dharamdasani will continue to lead the business post the buy-out.
Smile Vun Group founder Manish Vij said, “Seventynine has great potential as a business and we are certain that its association with Gruner+Jahr will provide a global platform for the business to grow further.This alliance is the beginning of our relationship with Gruner+Jahr.”
Gruner+Jahr International president Torsten-Jörn Klein said, “The expansion of Networkplay in the mobile space through the acquisition of Seventynine is clearly following our strategic commitment to grow our mobile business in the Indian market. G+J believes that in the Indian market, one of the fastest growing digital markets, the mobile segment will gain increasing importance. G+J is looking forward to further expand in that area together with Networkplay and the Seventynine team.”
In the new group, Seventynine‘s immediate focus would be technology, product and expansion in South East Asia and Middle East.
Seventynine was launched in April 2012 by Smile Vun Group with focus on rich media inventory especially videos and HTML5 to enrich user experience. The mobile ad-network recorded its first milestone in July 2012 when it clocked record growth by serving 700 Mn ad requests within three months of operation.
Seventynine also possesses Seventynine App Analytics Service and Predictive Analytics Engine.
