Australian ad network company Max Interactive was bought by Hyderabad based digital marketing firm Ybrant Digital in an all-cash deal, the details of which were not revealed, Digital Media reported. This is the sixth acquisition that Ybrant has closed in a span of three years; the company has spent more than $29.7 million in acquisitions (excluding that of Dream Ad and Max). It paid $13.5 million for Israeli ad firm Oridian, $4 million for US-based DW Net Ventures LLC (aka MediosOne), $2.2 million for Serbia-based Seenetix for its flagship bulk emailing product VoloMP and $10 million for US- based Pennyweb Inc. Total funds raised from external parties by Ybrant is $55 million. Suresh Reddy, Founder and CEO of Ybrant told MediaNama that the acquisitions have been paid for by raising funds and from the company's own pockets. From being a software services company supporting digital marketing agencies, Ybrant has now grown into an advertisement network with branches in 16 countries. Ybrant does 20 billion impressions a month and registers net sales of $60 million. Ybrant raised $20 million from New York-based Sansar Capital Management through preference shares. Sansar, according to StreetInsider is a pan-Asian long/short fund launched in 2005 by Sanjay Motwani. Ybrant's Red Herring prospectus filed in 2007 offers more details on the preference shares - 821,400 compulsory convertible preference (CCP) shares of Rs. 10 each were issued at Rs. 1,000 each and 100 equity shares at Rs.320 each. Of $20 million raised, $11.10 million was used in the…
