Advertising technology company Media.net has been acquired for $900 million in an all cash deal by a Chinese Consortium led by Zhiyong Zhang, the chairman of Beijing Miteno Communication Technology Company, a technology, media and telecom business. The company was bought from serial entrepreneur Divank Turakhia's Starburster TMT Investments. Media.net will continue to operate under Divyank Turakhia and its current management team and retain the business model. Divyank and his brother Bhavin led the overall transaction process, with Bhavin running the lengthy and complex legal negotiations in China. The transaction closed with $426M paid by the consortium, and the rest will follow as per the agreed payment schedule. The money from the sale will go in to diversified pool of global investment funds co-owned by Divyank and Bhavin Turakhia. Media.net makes products for advertisers as well as publishers and provides an entire suite of services,…
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