Gruner + Jahr acquires Networkplay

G+J has acquired majority stake in the digital agency incubated in 2008 by Webchutney and funded by Capital18.

Gruner + Jahr (G+J), the publishing division of European media conglomerate Bertelsmann AG, has acquired a majority stake in digital advertising agency Networkplay, which has presence on internet, mobile and DTH platforms and partnerships with advertisers and publishers.

Networkplay was incubated in 2008 by digital advertising agency Webchutney and funded by Capital18, the venture capital arm of the Network18 group. Over the last three and a half years, the company has grown and claims to have reached an execution capability of over 4 billion impressions per month across 500 publishers and 350 advertisers.

G+J had recently acquired a majority stake in MaXposure Media and this is its second strategic investment in India. Kuldip Singh, CEO, Gruner + Jahr India will join the board at Networkplay. Singh, who will be the CFO of Networkplay, says, "Networkplay was one of the several companies we were looking at when we decided to build our digital business in India. We zeroed in on it because of the brilliant team, along with the strategic vision that Ram had for the company thus far. Also, it has shown very attractive growth in revenues in the short span of its existence."

Commenting on the acquisition, Dr Torsten-Jörn Klein, executive board member and president, Gruner + Jahr International, says, "The expansion of our activities in India is in line with the strategic priorities of Gruner + Jahr. After the acquisition of MaXposure in the print space, G+J is acquiring Networkplay, one of the fastest growing digital companies in India, to follow its strategy to build a combined portfolio of print and digital media activities."

Commenting on the development, Rammohan Sundaram, founder and CEO, Networkplay, says, "We are privileged to be a part of the Bertelsmann group. This is a positive outcome for all our stakeholders, especially our customers as we now aim to enhance our innovative and execution capabilities in line with the world class standards and experience that Gruner + Jahr brings to this partnership."