Komli Media sells India business to Gurgaon-based SVG Media

27 Aug,2015

By Krithika Krishnamurthy


A day after adtech firm Komli Media spun out a separate company RevX, it sold its India business to Gurgaon-based SVG Media for an undisclosed amount.


Under the terms of the deal, Komli India will function independently alongside the existing businesses of SVG Media — Tyroo Technologies, DGM and SeventyNine. About 100 employees will join SVG as part of the deal. Komli India, SVG’s fourth acquisition, brings in 60 million unique users taking SVG’s reach to 150 million internet users in India.


“Social was a very important piece for us as commerce today happens through mobile. Komli had the social piece, and so we acquired it,” said CEO Manish Vij of SVG, who said SVG was in talks with Komli for the past five months.


SVG’s revenue from all businesses stand at over $50 million, which it claims is third only to Google and Facebook. The combined entity would reach 150 million Indian internet users across all devices, with 60 million coming in from Komli.


“They are probably looking to streamline on a strategy that works best, instead of doing multiple things. That may be the rationale behind hiving off its business units,” said Neha Dharia, a senior analyst at UK-based research firm Ovum.


Earlier this year, it sold its South East Asia operations to Malaysia’s Axiata group for $11.5 million, and just this week, it spun out its mobile remarketing platform RevX as an independent entity with $4 million in funding. “All companies go through various phases in their journey. We wanted to change approach, go more regional and invest more in technology,” said Amar Goel, founder and CEO of Komli Media.


Source:The Economic Times

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