A group of Chinese investors has
acquired ad-tech startup Media.net for about $900 Million in cash with plans to
eventually sell the company to an obscure telecommunications firm whose shares
have been suspended from trading since last year.
Media.net, which is based in Dubai
and New York, is touting this as the third largest ad-tech acquisition in
history. The company provides the technology powering contextual ads offered by
Yahoo and Microsoft Bing search Engine. The system is similar to one offered by
Google, choosing which ads to show based on the content of the web page they
appear on.
Media.net generated $232 million in
revenue last year, more than half of which came from mobile visitors. The US
accounts for 90 percent of Media.net revenue, but the company is hoping to make
a big push into China after the deal. The consortium buying Media.net is led by
Zhang, the chairman of Beijing Miteno Communication Technology. His telecom
firm has been moving aggressively the transition through an acquisition.
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