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Ybrant buys US ad-network for $10 M
By siliconindia
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Tuesday, 20 February 2007, 18:30 IST
Hyderabad: Technology solutions provider for online advertisers Ybrant Technologies has announced its acquisition of AdDynamix - an online ad network, in exchange for cash and promissory notes worth $10 million (about Rs 45 crore).
Suresh Reddy, Chairman of Ybrant said, "Given the deep network reach and the premier client roster of AdDynamix, we believe this acquisition will accelerate Ybrant's opportunity and impact in the digital marketing arena."
Hyderabad- based Ybrant plans an IPO my March end and is in the process of finalizing plans for a public issue and filing a Draft Offer Document with the Securities and Exchange Board of India. Reddy also hinted at the possibility of another acquisition shortly.
The present acquisition falls directly in line with Ybrant's strategy of offering comprehensive end-to-end digital marketing services to direct marketers, brand advertisers and marketing agencies.
Benoit Pecqeur, founder and CEO of AdDynamix said, "Joining with Ybrant allows us to leverage the resources and talent pool of a large company to expand our technology and serve our existing clients in new ways and reach broader sets of key publishers and deliver incredible value to advertisers."
AdDynamix, an interactive advertising network, delivers ad management, video and digital media services to agencies, entertainment clients and direct marketers. As per the latest Media Metrix rating of Ad Focus properties, AdDynamix was ranked at 11th among the advertising networks.