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VC-backed Komli Media bolts on Admax

  • Susannah Birkwood
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Komli Media, the Indian media technology company backed by Norwest Venture Partners, has completed the bolt-on acquisition of digital media network.Admax.

Singapore-based Admax Network is the largest media network in South East Asia, with more than 90 million users per month from across Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.

Following the deal, Komli, which is also backed by Nexus Ventures, Helion Ventures and Draper Fisher Jurvetson (DFJ), will become the region's largest publisher network, with 4,600 local and international websites. In acquiring Admax, it will also now have access to the firm's experienced team, including CEO Mathew Ward, and sales relationships with more than 350 advertisers, such as Sony, Citibank and Blackberry.

"Admax's deep publisher and advertiser relationships and strong team presence across key markets in South East Asia will further reinforce our position," said Komli CEO Prashant Mehta.

Komli was advised on the deal by Trispan Partners and Shearman & Sterling.

The combined business will now have a workforce of 400 people.

Last January, Norwest led a $15 million round of funding for Komli with existing investor Helion. Previously, in July 2010, Helion, Nexus and DFJ India injected $6 million into the business. The three firms have been investors in the company since 2008, when they provided $7 million in Series A funding.

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