DealCurry.com : Lyxel Digital Merges With AdFedral; Plans Fund Raise
Jun 6, 2013
Mergers & Acquisitions | 5 June 2013
Lyxel Digital Merges With AdFedral; Plans Fund Raise
by Pranav Puri
Technology driven advertising company, AdFederal, has decided merge its operations with Lyxel Digital for an undisclosed amount, moneycontrol states. The combined entity will also be looking for raising series A funding for its data management platform and expanding its sales team across South East Asia. Dev Batra will lead the entity as Chief Evangelist while Nishith Srivastava, Founder and CEO, AdFederal Media will continue to work with Lyxel as Chief Technology Officer, to drive the Data management platform and strengthening in-house ad serving capabilities and operations. AdFederal Media is a digital advertising company with a focus on behavioral analytics. It has delivered digital advertising solutions to more than 100 clients and 10 major agencies in the last three years of its existence. Pepsi, HP, Samsung, Dominos, Lufthansa, Dell, Airtel, TATA Docomo, CISCO, NEC are some of its regular advertisers. The current team strength is 30 based out of offices at Delhi, Mumbai and Bangalore. With this merger, AdFederal will now operate under Lyxel brand name and the merged entity will focus on developing proprietary algorithms to provide targeted digital solutions for its clients in India, Middle East, Asia Pacific and Africa. Gurgaon based, Lyxel Digital is a digital advertising company targeting premium audience on internet. It was founded by Dev Batra, Mohit Vats and Dynamis Mentors a new-age mentoring firm run by Nitin Gupta and Anshul Singhal. It delivers through its relationships with not only the largest horizontal portals in the country (and abroad) but also through its relationships with several independent, niche publishers with a loyal audience built over the years. This deal would help Lyxel in gaining capabilities in behavioral data analytics and running targeted display ads for its clients in future. Lyxel will also help Adfederal clients to buy digital inventory across the globe including social media, new publishing and travel portals worldwide. Few days back, Capital18, the venture capital arm of Network18 entered into an agreement with Dentsu India Group to divest its stake in Webchutney – a digital ad and consulting agency. In April, Tokyo listed Adways Inc. has bought 13.8% stake in affiliate marketer VC Internet Media. While in January, Omnicom Group’s advertising agency – TBWA acquired digital agency – Magnon Group, the acquisition included Magnon Solutions and Magnon International of Magnon Group.