Bangalore: Gruner + Jahr, one of Europe’s largest printing and publishing firm has acquired Seventy Nine, an Indian mobile media distribution and analytics startup for Rs 38 Crores reports Dealcurry.

Founded by Deven Dharamdasani and Chirag Shah, Seventy Nine began its operations in February 2012. Gruner + Jahr had acquired another Delhi based Networkplay earlier this season, and with this deal Seventy Nine would join and become a subsidiary of the former company but would work independently focusing on technology, product and expansion targeting South East Asia and Middle East.

Seventy Nine is a Pay for Performance mobile network that enables application downloads. It ensures higher reach and visibility to brands besides the clichéd media advertising formats on mobile devices. This creative platform was incubated by Vun Network and Smile Group.

Gruner + Jahr, is a publishing division of the international media company, Bertelsmann AG. It has various sectors of operation in the media industry that include book publishing - Random House, television - RTL Group, magazine publishing (Gruner + Jahr), and outsourcing services (Arvato) in about 50 countries around the world.

“We are excited about our association with Networkplay and being a part of the international Gruner + Jahr and Bertelsmann family. We would like to express our gratitude to Smile Vun Group for believing in our vision and goals and helping us grow at such a phenomenal rate. We are certain that association with Networkplay would be an impetus for our business and aid our objective of becoming the leading player in the mobile advertising space in India and beyond,” stated the co-founders of Seventy Nine to Watblog.

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