Gruner+Jahr, one of Europe’s leading publishing house, has acquired through its Indian subsidiary Networkplay Media, the 79 mobile ad network business of VUN Digital, which is engaged in the business of mobile and digital ad networks for an undisclosed amount.
Amarchand Mangaldas advised Gruner+Jahr on Indian law aspects with a team led by Partner Vidyut Gulati along with Associate Varun Nair.
The Hamburg office of DLA Piper acted as advisors to Gruner+Jahr with a team led by Partner Benjamin Parameswaran.
InduLaw advised VUN Digital with a team led by Partner Avimukht Dar.
With this deal, the company will now be a subsidiary of Delhi-based digital ad network Networkplay, which was acquired by the Gruner + Jahr in March this year.
Launched in February 2012, SeventyNine is a cross-platform Pay-for-Performance mobile network that offers a platform to enable application downloads and seeks to provide higher reach and visibility to brands besides bringing in new media advertising formats on mobile. The platform was incubated by Vun Network and Smile Group, reports Dealcurry.