Ybrant Technologies IPO : Ybrant Technologies IPO Pre Placement
Ybrant Technologies IPO : Ybrant Technologies IPO Pre Placement
In a pre-IPO placement, Ybrant Technologies has raised $20 million from New York-based private equity and hedge fund Sansar Capital by diluting 16 per cent (2.5 million shares at Rs 325 a share) of its equity. Ybrant, which has revenues of $24 million with profits of $6 million, has been valued at $125 million in the Sansar round.
The Hyderabad-based company, founded by Suresh Reddy, also continues with its acquisition led growth strategy. The firm is acquiring Israeli online media solutions company, Oridian, for $13 million. The eight year old firm is majority owned by Israeli venture capital firms Challenge, Infinity Fund and Invitech; it had raised $6.3 million in 2001. It posted revenues of $20 million last year.
With the $13 million price tag, it doesn’t look Oridian has made much money for its investors. However, Ybrant will add the 60 employees of Oridian into its fold, taking its total number to 320. Besides, the acquisition will also help Ybrant enter new markets including Germany, UK, France, Argentina, Australia, Scandinavia, Italy, Belgium and the Netherlands.
In November 2006, Ybrant acquired MediosOne, a US-based Internet advertising network with clients like American Express, eBay, US Army and Vonage. In February 2007, It acquired another US-based online ad-network company AdDynamix for $10 million. Two months later, it bought out a Serbian email marketing platform VoloMP.
Source : VC Circle
