04 September 2019, India:
Indian buyout firm TIW Private Equity has acquired a majority stake in digital marketing firm Digital Refresh Networks Pvt Ltd for about $6 million.
Digital Refresh Networks plans to utilise the fresh capital to strengthen its expertise in content creation and for acquisitions.
Mohit Ralhan, Managing Partner and Chief Investment Officer at TIW Private Equity, said, “Digital Refresh Networks has been able to acquire and retain quite a few marquee clients, which gives us a lot of confidence as far as business sustenance goes. The team has demonstrated capability in developing new products and services that will aid in driving growth for the company in the quarters ahead.”
Mohit Ralhan added, “We also believe that the macro for digital consumption, driven by higher internet adoption and evolving consumer behaviour, is fairly solid. Significant value can be unlocked in this space by focusing on cost efficiencies around operating processes and through acquisitions.”
Ravi Dubey, Co-founder and Executive Director, Digital Refresh Networks, said, “Our vision is to build a digital-first communication and commerce company which provides better ROI for brands across all platforms. We intend to immediately acquire full-service capabilities in digital content creation, and build competencies in platform and market-place management.”
Digital Refresh Networks (formerly Digital F5) was founded by Ravi Dubey and Barin Mukherjee in 2011. The company enables delivery of brand objectives on the web, mobile and social media through communication and commerce applications, audio-video elements and customised digital solutions.
(image – Pexels)