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KKR-backed Emerald Media buys stake in Amagi Media Labs

Press Trust of India  |  New Delhi 

Global investment firm KKR-backed Emerald Media has acquired a significant minority stake in media technology firm Amagi Media Labs for an undisclosed sum.

Emerald Media has acquired a "significant minority stake" in Amagi Media Labs, Emerald Media said in a statement.

"Premji Invest, the investment arm of Azim Premji, (an existing shareholder) is also participating in this combination of primary and secondary USD 35 million Series D round. Mayfield India and Nadathur Holdings will continue to remain invested in the company," the statement said.

Emerald Media Managing Director Rajesh Kamat said: "Amagi has harnessed the transformative power of technology (both hardware and software) to change the way TV networks and brands perceive content delivery and monetization ...

"Emerald Media will assist Amagi in driving this change in the broadcast and digital industry by providing a distinctive combination of capital, domain knowledge and management bandwidth".

Amagi Media runs the country's largest geo-targeted ad network. Prior to this round, Amagi has raised USD 25 million from Premji Invest, Mayfield India and Nadathur Holdings.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, December 15 2016. 17:28 IST