Divyank Turakhia’s Media.net Got Acquired By Beijing Based Miteno For $900 Million
Media.net, a key player in the ad-tech space got acquired by Beijing-based Miteno in an all-cash transaction valued at approximately $900M USD.
Mitneo is led by Mr. Zhiyong Zhang, the chairman of Beijing Miteno Communication Technology Co. Ltd., a technology, media and telecom (TMT) business listed on the GEM Board of the Shenzhen Stock Exchange. This completes the first step toward Media.net being acquired by, and integrated into, Beijing-based Miteno.
Media.net is a large, growing and profitable business with 2015 IFRS revenue of $232M. It currently manages more than $450M of annual advertising revenue via its platform, more than 50 percent of which is generated from mobile users. Ninety percent of Media.net’s total revenue comes from the U.S. With seven offices world...