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UTV’s subsidiary company completes IMPL buy
MUMBAI: United New Media Ventures (UNMVL), a wholly owned subsidiary of the UTV Software Communications focussed on internet, new media and digital activities, has completed the acquisition of IMPL. Post completion of acquisition process, UTV‘s subsidiary company, will hold 80 per cent of IMPL.
IMPL has technology-based consumer and trade focussed business model positioned as an `Online Technology Infomediary` in India. “This business model focuses on the target age group of 15-35 and the Company finds this highly synergistic to its business. The acquisition by UNVML of IT Nation was through a combination of acquisition of equity shares from the existing promoters of IT Nation and subscription to fresh equity shares of IT Nation,” said an official statement.
