SVG Media acquires SeventyNine, NetworkPlay for $15 mn

Digital media network SVG Media today said it has acquired mobile video technology platform SeventyNine and performance display platform NetworkPlay from Gurner+Jahr (a unit of Bertelsmann Group).
Though the company declined to comment on the deal size, sources said it is estimated to be worth about USD 15 million.
"Post the acquisition, SVG Media has become the largest advertising technology company in India with over 8 per cent market share of digital media," it said in a statement.
Furthermore, it is now reaching over 100 million Internet users on mobile and PC, the statement added.
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Expo for providing one-stop solution for textile industry * The three-day Global Textile Technology and Engineering Show (GTTES) 2015, scheduled in Mumbai from January 20 next, would focus on post spinning segments and also provide one-stop solution for every business in the textile sectors.

The event will also act as a single window access to textile technology, new markets and customers, engineering solutions, besides International Trade, Senthil Kumar, Vice-Chairman, GTTES 2015, told reporters at Coimbatore today. Some 300 exhibitors from China, Taiwan, Korea, Japan, the US, apart from India are displaying their modern technology, price competitiveness, customized services, expanded network and new market members for both exhibitors and visitors, Hari Shankar, Treasurer, said.

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BHEL commissions country's first phase shifting transformer * State-owned BHEL today said it has commissioned the country's first phase shifting transformer (PST) at a power plant in Telangana.
The transformer has been commissioned at Stage-VI of Kothagudem thermal power station.
In a statement, Bharat Heavy Electricals Ltd (BHEL) said it has indigenously developed, manufactured and commissioned India's first Phase Shifting Transformer (PST).
The order was placed by Telangana State Power Generation Corp Ltd, erstwhile APGENCO.