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Smile Vun Backed Mobile Ad Network SeventyNine Acquired By Gruner+Jahr’s Networkplay

Ad network Networkplay, which was acquired by Gruner + Jahr, the media company, part of Germany’s Bertelsmann group, has acquired Smile Vun Group backed mobile ad network Seventynine. The monetary terms of the transaction were not disclosed. Following the transaction, Sevetynine will be an independent business unit under the Networkplay umbrella, with its management reporting directly into the board. After joining Networkplay, Seventynine’s immediate focus would be technology, product and expansion in South East Asia and Middle East. The co-founders of Seventynine, Chirag Shah and Deven Dharamdasani will continue to lead the business post the buy-out, informed the company. The acquisition follows Gruner+Jahr's buy-out of Capital18 and Webchutney backed ad network, Networkplay, earlier this year. According to Gruner+Jahr, the expansion of Networkplay in the mobile space through the acquisition of Seventynine is inline with its strategy of grow its mobile business in the Indian market. Seventynine's platform includes a…

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