Press Esc to close

Directi's Media.net on acquisition spree

Benny Antony, July 09, 2016, Mumbai, DHNS 22:45 IST
According to Turakhia, the digital tax benefit and rewards solution market is a $15 billion, out of which only $1-2 billion has been explored so far and Zeta is hoping to increase the company's share of existing pie as well as the growing pie. Fil Photo for representation.
Media.net, one of the 11 business units of Directi, is conducting due diligence for a US-based advertising technology company.

“We have acquired four companies in the last three years via Media.net. Now, we have bid for another company in the advertising technology space in the United States and hope to hear something from the company within the next 2-3 months,” Directi co-founder and chief executive officer Bhavin Turakhia told Deccan Herald.

The previous acquisitions have ranged from $4-40 million and one of them was a technology company, Turakhia added. According to Turakhia, Zeta, which is also one of the business units of Directi, will see further investments and he is open to funding from strategic players.

“We have invested $19 million in Zeta so far and the business will require further funding going forward. The investments so far have been through internal accruals of various businesses but we are open to outside funding if it is strategic in nature,” Turakhia said.
“We will decide on the quantum of funds to be invested in the next 4-5 months, as the funds would need to be invested in the company in the next one year,” Turakhia added.

According to Turakhia, the digital tax benefit and rewards solution market is a $15 billion, out of which only $1-2 billion has been explored so far and Zeta is hoping to increase the company’s share of existing pie as well as the growing pie.

Zeta is one of the latest venture of Directi. The company has unveiled three new digital solutions in the employee tax benefits and rewards space. These new solutions are expected to simplify how companies manage medical claims and reimbursements, how employees receive tax-free gifts from their companies and how companies manage their incentives and rewards programme for employees.

Directi is a conglomerate of tech companies having presence in India, US, China, Dubai and Europe. Its portfolio companies including Ringo, Flock, Zeta, Radix, Media.net, Skenzo and Codechef.

Go to Top

More from this section
Most trending stories
Photo Gallery
A view of Sunder Nursery at Hazrat Nizamuddin in...

A view of Sunder Nursery at Hazrat Nizamuddin in...

Mahila Congress activists make 'pakodas' to protest against alleged unemployement...

Mahila Congress activists make 'pakodas' to protest against alleged unemployement...

Canadian Prime Minister Justin Trudeau and First Lady Sophie Grgoire greet visitors...

Canadian Prime Minister Justin Trudeau and First Lady Sophie Grgoire greet visitors...

Gold medalist Mariama Jamanka of Germany gets lifted by silver medal winner Lauren Gibbs...

Gold medalist Mariama Jamanka of Germany gets lifted by silver medal winner Lauren Gibbs...

Union Textile Minister Smriti Irani addresses a session during UP Investors Summit 2018 at...

Union Textile Minister Smriti Irani addresses a session during UP Investors Summit 2018 at...

A helicopter is seen flying over the besieged town of Douma, Eastern Ghouta...

A helicopter is seen flying over the besieged town of Douma, Eastern Ghouta...

Transgender Shanavi Ponnusamy arrives at the chief minister's cell at...

Transgender Shanavi Ponnusamy arrives at the chief minister's cell at...

Lufthansa tests humanoid robot 'Josie Pepper' at airport...

Lufthansa tests humanoid robot 'Josie Pepper' at airport...

Chief of the Air Staff, Air Chief Marshal B.S. Dhanoa presents a memento to the...

Chief of the Air Staff, Air Chief Marshal B.S. Dhanoa presents a memento to the...

Alpine Skiing - Pyeongchang 2018 Winter Olympics - Women's Downhill Training...

Alpine Skiing - Pyeongchang 2018 Winter Olympics - Women's Downhill Training...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.