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Hyderabad-based digital marketer Ybrant Digital took a break from its international shopping spree last year, but it says its looking to buy again. The company has raised $48 million in debt and equity to help further its international presence. In addition to acquisitions, Ybrant wants to use the proceeds to enhance its technology as well.
Last summer, Ybrant bought ancient search engine and portal operator Lycos from South Korea’s Daum Communications for $36 million. While Lycos has been all but forgotten in the west, it said had some meaningful business in parts of Asia. While that was considered one of Ybrant’s biggest acquisitions, it has made a number of smaller ones in South America and Europe, as well as its home country.
Oak India Investments, an affiliate of Oak Investment Partners, was involved in the new financing round; joined by current investors, Asia Pacific Capital, as well as the ICICI Bank. Release