NetCore Solutions Pvt Ltd has acquired Greynium Information Technologies Pvt Ltd. Greynium is a market leader in the Indian languages Internet portals space (under the OneIndia.in brand) and also has a growing position in the online Indian classifieds space with its Click.in portal. NetCore is one of India’s largest digital communications companies, with its email and SMS solutions being used by over 2,000 companies.
Terms of the deal were not disclosed. NetCore’s Founder and Managing Director, Rajesh Jain, had earlier invested in Greynium through his personal venture capital fund, Emergic Venture Capital.
Commenting on the development, Abhijit Saxena, CEO, NetCore Solutions, said, “Given that local languages are crucial for India, this strategic acquisition will position NetCore well going ahead in building both reach (across Internet and mobile) and revenue (from ads, lead generation, content subscriptions and commerce). Netcore through MyToday has been focused on driving a direct-to-consumer business and this conforms to that objective. Building a large digital consumer base across web, SMS and the mobile Internet will allow NetCore to monetise this base effectively not only across both media as also create opportunities around e-commerce and m-commerce.”
BG Mahesh, Founder and CEO, Greynium, said, “Greynium has been an early pioneer in the local languages space in India. It has a large Internet reach (6-plus million monthly unique visitors on its portals in English, Hindi, Tamil, Telugu, Kannada and Malayalam). This complements the 4 million mobile (SMS) reach that NetCore has through MyToday. Greynium’s presence with its senior leadership team in Bangalore will also strengthen the Southern regional office for NetCore.”
According to NetCore’s Rajesh Jain, “In India, there is no company which has successfully managed to create a large presence in the consumer space on the Internet and mobile. The future of Internet in India will be a multi-screen one, defined by services that span the mobile-PC continuum. The combination of MyToday’s mobile services and OneIndia’s Internet portals creates new opportunities for both consumers and enterprises.”