Digital media network SVG Media (Smile Vun Group) has acquired mobile video technology platform SeventyNine and performance display platform NetworkPlay from Gurner+Jahr (a unit of Bertelsmann Group).
SeventyNine and NetworkPlay will now work as independent brands along with SVG Media's other AdTech platforms Tyroo, DGM and PrecisionMatch.
Manish Vij, founder and CEO, SVG Media says, "It has been our dream to build a platform of this scale to help our advertisers meet its performance marketing objectives and give best monetisation for our publishers for their mobile / PC assets. SeventyNine's patent pending technology is one of first few mobile video platforms that delivers performance to advertisers."
In March 2012, Gruner + Jahr acquired a majority stake in Networkplay for an undisclosed sum. Networkplay was incubated in 2008 by digital advertising agency Webchutney and was funded by Capital18, the venture capital arm of the Network18 group.
Subsequently, Networkplay took over Seventynine in May 2012. Prior to the acquisition, Seventynine was backed by Smile Vun Group. SVG is a JV between Manish Vij's Vun and Harish Bahl's Smile Group and it started commercial operations in April 2012 with a focus on rich media inventory especially videos.