Netcore acquires Greynium, parent company of Oneindia

By afaqs! news bureau , afaqs!, New Delhi | In Digital | May 05, 2010
The acquisition will help Netcore in offering mobile and PC solutions to its clients

Netcore Solutions has announced the acquisition of Greynium, the company behind and, for an undisclosed amount. The acquisition will help Netcore in offering mobile and PC solutions to its clients.

"Given that local languages are crucial for India, this strategic acquisition will position Netcore well going ahead in building both reach (across Internet and mobile) and revenue (from ads, lead generation, content subscriptions and commerce)," says Abhijit Saxena, chief executive officer, Netcore Solutions.

Saxena adds that Netcore, through its India centric mobile Internet portal MyToday, has focused on driving a direct-to-consumer business and has built a large digital consumer base across web, SMS and mobile Internet. The acquisition will allow Netcore to monetise this base effectively, not only across both media but also create opportunities around e-commerce and m-commerce.

As the line between PC-Internet and mobile-Internet becomes blurry, the acquisition will help both the companies to reach out to their customers on both media. Saxena says, "As the functionalities converge, users are accessing the Internet and a whole lot of content and services - both audio and video - either on mobile or via the PC-Internet. There is a very thin line between these two streams and going forward, users will be swapping between the screens to access content. Through this acquisition, we want our clients to reach out to their audience irrespective of the platform."

All the advertisers who are using the Internet or mobile as a medium to reach their consumers would benefit from this deal.

The integration process, both services and management, will take about three-four months.

Greynium is the parent company of , the Indian languages Internet portal. It also has an online Indian classifieds space under the name Netcore is a digital communications company. Its email and SMS solutions are being used by more than 2,000 companies.

The managing director of Netcore, Rajesh Jain, has earlier invested in Greynium through his venture capital fund, Emergic Venture Capital.

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