Ybrant Digital to acquire stake in Israel-based Web 3.0

If acquired, this could be eighth acquisition for Ybrant in the last five years

PTI | June 28, 2011



Hyderabad-based digital marketing firm Ybrant Digital on Monday said it plans to acquire a minority stake in Israel-based Web 3.0 that also operates in similar domain, for an undisclosed amount.

"We have signed a letter of intent to acquire minority stake in Web 3.0 which specialises in mobile marketing...The due diligence is likely to take about two months," Ybrant Digital Chairman and CEO Suresh Reddy told PTI without disclosing details such as the quantum of stake and valuation.

If completed, this would be eighth acquisition for Ybrant in the last five years. "Ybrant has acquired 100 per cent stake in seven digital marketing companies in the last five years. These are US-based MediaOne and Ad Dynamic, Serbian firm VoloMP, Israel's Oridion, Argentina's DreamAd, Australia-based Max Interactive and Internet search engine Lycos," he said.

When asked about funding of the acquisition, Reddy said: "So far we have raised USD 100 million (about Rs 450 crore) through a combination of debt and equity. There is enough cash available to fund the acquisition."

Earlier this year, Ybrant had raised USD 48 million (over Rs 215 crore) from ICCI and Oak India Investments to fund its expansion plans.

He said as per estimates, global spends on mobile marketing, advertising and messaging will exceed USD 3.3 billion in 2011 and reach USD 20.6 billion by 2015.

"Search ads and location-based ads will particularly drive growth. Brand spending on mobile advertising will grow from 0.5 per cent of the total current advertising budgets to over 4 per cent in 2015. Asia has and will continue to dominate global mobile ad spend," he said.

Ybrant Digital offers digital marketing solutions to businesses, agencies, and online publishers worldwide and has a presence in 18 countries. It does not disclose its revenues.


 

Comments

 

Other News

Who checks the books?

I read about the news about the Coimbatore library over coffee this morning. On the face of it, the headline was about a political ‘war’ between the DMK and TVK. But what stayed with me was something much more important than the blame game behind what had transpired. A writer walking through

Development paradox: Falling poverty miracle and an inequality problem

India’s reduction in poverty over the past decade is a development achievement of considerable significance. The World Bank’s April 2026 ‘India Development Update’ estimates that the share of Indians living below the international extreme-poverty line of $3.00 per person per day i

In Arunachal, a river we call mother

In Arunachal Pradesh, the Siang is not just a river. For many of us, especially the Adi people, it is part of our family. Our grandparents fished in it. Children learned to swim in it. Our farms drink from it. When someone says a huge dam will be built on it, we do not hear the word "project".

A new retelling of the Mahabharata delves into key moments

In a time when every decision carries consequences and questions of ambition, power, loyalty, identity and moral choice continue to shape our lives, Dr. Arun Krishnan’s new book, ‘Mahakshana’ (Penguin India) offers a strikingly relevant retelling of the Mahabharata.  

Cabinet approves viability gap funding to develop grid-scale energy storage systems

The Union Cabinet, chaired by PM Narendra Modi, has approved the Viability Gap Funding (VGF) Scheme for Development of Grid-Scale Energy Storage Systems, with a total financial support of Rs.14,500 crore for the period FY 2026-27 to FY 2030-31. The scheme aims to support the development o

Cabinet creates a pathway to absorb Agniveers in Defence Forces

An objective assessment in terms of organisational requirements and operational efficiency has brought out the outstanding performance of Agniveers in terms of skills, motivation levels, physical fitness and technological prowess. As envisaged earlier, based on merit, 25% of Agniveers will be offered reg

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter