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Ybrant to acquire minority stake in Web 3.0; expects over $200 mn revenue this fiscal

Hyderabad-based digital marketing company Ybrant Digital has
decided to acquire a minority stake in Israel-based digital media company Web
3.0 for an undisclosed sum in an all cash deal. The company expects to complete
the acquisition process in a couple of months. The company also expects to
achieve revenues of over $200 million this fiscal with its new initiatives.

Hyderabad-based digital marketing company Ybrant Digital has
decided to acquire a minority stake in Israel-based digital media company Web
3.0 for an undisclosed sum in an all cash deal. The company expects to complete
the acquisition process in a couple of months. The company also expects to
achieve revenues of over $200 million this fiscal with its new initiatives.

“We expect to complete the acquisition in a couple of
months. Web 3.0 is a market leader in Israel. By acquisition minority stake we
want to build a joint venture so that we can take their marketing methodology
to global market. We will also be able to build technologies around its
methodology,” said Suresh Reddy, chairman and CEO, Ybrant Digital.

According to Shahaf Bar-Geffen, CEO, Web 3.0, with Ybrant’s
massive global team and a solid growth strategy, Web 3.0 will be able to
jointly expand our mobile advertising efforts at a faster pace and to
subsequent markets.

Started in 2000, Ybrant has offices in 16 countries. So far
the company had raised four rounds of private equity. This is the fourth round
of funding received by Ybrant Digital. The latest round of funding was done in
January this year by raising $48 million in debt and equity from Oak Investment
and ICICI Bank. In the earlier three rounds it had raised about $53 million.

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