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Broadband

Ad platform Media.net bought by China investors for USD 900m

Monday 22 August 2016 | 16:06 CET | News
Media.net, a developer of online ad technology that works with Yahoo and Microsoft's Bing, has been acquired by a Chinese consortium from its founder Divyank Turakhia's Starbuster TMT Investments for USD 900 million. The consortium is led by Zhiyong Zhang, the chairman of Beijing Miteno Communication Technology, a company listed on the GEM Board of the Shenzhen Stock Exchange. Media.net reported turnover of USD 232 million for 2015 and said it manages more than USD 450 million of annual advertising revenue via its platform. Miteno plans to help the company expand into China.

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Categories: Internet
Countries: China / United States
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