NetCore Solutions has acquired Greynium Information Technologies, which owns Indian languages portal OneIndia.in and online classifieds portal Click.in, to reach consumers across PC web, SMS and mobile internet in multiple Indian languages. Terms of the deal were not disclosed.
NetCore Solutions has acquired Greynium Information Technologies, which owns Indian languages portal OneIndia.in and online classifieds portal Click.in, to reach consumers across PC web, SMS and mobile internet in multiple Indian languages. Terms of the deal were not disclosed. NetCore’s founder and managing director, Rajesh Jain, had earlier invested in Greynium through his personal venture capital fund, Emergic Venture Capital.
B G Mahesh, founder and CEO, Greynium, has said, “Greynium has been a major player in the local languages space for the PC web in India with 6.5 million monthly unique visitors on its portals in English, Hindi, Tamil, Telugu, Kannada and Malayalam. This collaboration with NetCore, who is a leader in the mobile space with 4 million subscribers, provides an opportunity to amalgamate both the mediums and hence fuel the growth of internet usage in the country.”
“Mobile will be a major internet device in the coming years and NetCore’s technology will allow the users to consume our content on mobile. Greynium’s presence with its senior leadership team in Bangalore will also strengthen the Southern regional office for NetCore,” B G Mahesh has added. Though the deal size was not disclosed, according to Mahesh, the deal is a combination of both cash and share exchange and the Greynium team will now become a part of NetCore Solutions.
Rajesh Jain, founder and managing director, NetCore Solutions, has said, “In India, there is no company which has successfully managed to create a large presence in the consumer space on the internet and mobile. The future of the internet in India will be a multi-screen one, defined by services that span the mobile-PC continuum. The combination of MyToday’s mobile services and OneIndia’s internet portals creates new opportunities for both consumers and enterprises.”
Abhijit Saxena, CEO, NetCore Solutions, has said, “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). NetCore through MyToday has been focused on driving a direct-to-consumer business and this conforms to that objective.”