The High Court of Andhra Pradesh has approved Ybrant Digital’s merger with LGS Global Limited Limited. The AP High Court has sanctioned the scheme of amalgamation of Ybrant Digital with LGS Global, the company said in a filing to the Bombay Stock Exchange (BSE). The High Court orders will be filed with the offices of the registrar of companies and the scheme will become effective with appointed date being April 1, 2011.
Earlier in 2011, the shareholders of both the companies had approved for a merger. As per the scheme, the combined entity will be referred to as ‘Ybrant Digital Limited’, in which, Ybrant Digital will have 89 per cent and LGS will have 11 per cent share holding.
Earlier it was said that Ybrant Chairman and CEO Suresh Reddy will be the Chairman and CEO of the combined entity, Subba Rao Karusula, Managing Director of LGS, will be the Business Head of the LGS Division of Ybrant. The new entity will offer digital marketing services for businesses, publishers and agencies, with a commitment to serving customers with best of the breed platforms.
Founded in 2000 and headquartered in India, Ybrant Digital holds offices in 20 countries, including US, Argentina, Brazil, Chile, Uruguay, Mexico, UK, France, Germany, Sweden, Ukraine, Serbia, Israel, China, India, and Australia, and with representatives or partners in Spain, Greece and The Netherlands.
Besides proprietary media, Ybrant Digital partners with top global publishers such as Facebook, Google, MSN, Yahoo!, and Viacom, and assists over 140 top Ad Agencies including OMD, Carat, MediaCom, Group M, Quasar, Razorfish, Mindshare, Maxus, OmniCom and Oglivy, spread across Europe, the Americas and Asia.