Hyderabad May 12, 2008 – Ybrant Technologies Ltd, a Hyderabad based digital marketing firm, is all set to buy a US online marketing major for an undisclosed sum. The acquisition, which would be its fifth overseas acquisition, would catapult the company to the top 10 online marketing firms globally.
Speaking to Televisionpoint.com, Suresh Reddy, Managing director, Ybrant Technologies, said, “We are close to signing a letter of intent. This acquisition will increase the synergies existing between the two firms in the US market. This deal should make us one of the top 10 players globally.”
The global online advertising market is worth $40 billion. Of which, the US accounts for 50 per cent market share, while Indian market is just $40 million. Reddy added all acquisitions were aimed at making the company an end-to-end online solutions company.
On competition, he said, “It is true that our market is highly competitive. But we find opportunities from the very same competition. Our DNA is technology and we know what goes into making our projects successful.”