Malaysia's Axiata Group buys VC-backed Komli's SE Asia unit

Axiata will make the investment through Adknowledge Asia Pacific (APAC), a unit in which it holds an 80% stake via Axiata Digital Services, a wholly owned subsidiary. 

Komli's Southeast Asia business, which trades as Komli Asia Group, has operations across Singapore, Thailand, Vietnam, the Philippines, Indonesia, Malaysia and Hong Kong.

Komli was set up in 2006 and has over 300 employees - including around 100 personnel working for its Southeast Asian business - across 12 offices in India, Australia, New Zealand and Southeast Asia.

Its advertising platform helps digital marketers to convert site visitors to customers by leveraging consumer insights across web and mobile. The company is incorporated in the US and has its principal office in New York.

According to AVCJ Research data, Komli has raised more than $116 million over seven rounds. Its backers include Norwest Venture Partners, Nexus Venture Partners, Helion Venture Partners, Draper Fisher Jurvetson, Peepul Capital, Avendus Capital, and SoftBank China and India Holdings.

"Komli Asia is a compelling strategic opportunity for APAC as it enables APAC to skip past the formative stage of its business plan and scale up its presence and operations in South East Asian region," said Axiata in a statement. "Komli Asia Group brings with it a geographically diversified revenue and provides a strong strategic fit across digital advertising verticals such as social, video, display and mobile."

Komli expanded into Southeast Asia in 2012 with the bolt-on acquisition of digital media network Admax, which at the time was the region's largest digital media network. Other acquisitions include ZestAdz, Postclick, Aktiv Digital, and the Asian video advertising business of Jivox.

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• Topics
• Exits
• Southeast Asia
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