Indian digital marketing company Ybrant Digital Ltd. will acquire a minority stake in Israeli start-up Web 3.0 Ltd., a developer of web, mobile web, and performance-based marketing and applications. The companies did not disclose the size of the deal. The two companies are already collaborating on a range of mobile ventures.
Web 3.0 CEO Shahaf Bar-Geffen and Paz Dror founded the company.
“We are proud to join hands with one of the fastest growing digital advertising groups in the world. Digital advertising has been showing tremendous growth globally. With Ybrant’s massive global team and a solid growth strategy, we will be able to jointly expand our mobile advertising efforts at a faster pace and to subsequent markets, getting Ybrant's vision of a seamless multi platform offering closer to its full potential,” said Bar-Geffen.
Ybrant chairman and CEO Suresh Reddy said, “We clearly see that the mobile media has huge potential for growth in the years to come. Ybrant has made a strategic commitment to play a significant role in the growth and development of this arena. This collaboration with Web 3.0 is the first among the few moves we are making towards strengthening our offering."
Ybrant cites studies, which estimate global spending on mobile marketing, advertising and messaging will exceed $3.3 billion this, and reach $20.6 billion by 2015. It adds that Asia has and will continue to dominate global mobile ad spending.
Web 3.0 is Ybrant's third acquisition in Israel. In April, it acquired embedded picture company PicApp Ltd. for $10 million, and in it acquired digital advertising company Oridian Online Media Solutions Ltd. for $15 million in 2007. Oridian manages Ybrant's Israeli office, which is responsible for ad networks in the Americas, Europe, and Australia.
Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2011
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