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China firm buys Yahoo! ad partner Media.net for $900 mn

Divyank Turakhia, founder and CEO of Media.net, said he expects many other firms to copy the strategy in future

Bloomberg 

A group of Chinese investors said it's acquiring ad-tech start-up Media.net for about $900 million in cash, with plans to eventually sell the company to an obscure telecommunications firm whose shares have been suspended from trading since last year. Media.net, which is based in Dubai and New York, is touting this as the third-largest ad-tech acquisition in history. However, the complex deal more closely resembles a reverse merger, where a private company takes over a public one and bypasses the formalities of an initial public offering. Technology entrepreneur Divyank Turakhia ...

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First Published: Tue, August 23 2016. 00:08 IST
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