<p>Advertising technology startup Media.net, founded by tech entrepreneur Divyank Turakhia, said on Monday it had been acquired for about $900 million by a group of Chinese investors.</p>.<p>The deal would represent the third-largest in the ad tech industry, after Alphabet Inc unit Google's acquisition of DoubleClick and Microsoft Corp's deal for aQuantive.</p>.<p>"We got an incredible amount of interest just because ad tech is a large and growing space and, at the same time, the number of companies that have been successful in it have been limited," Turakhia said in an interview.</p>.<p>The company's products, which are licensed by various publishers and ad networks, auto-learn and display the most relevant ads to users.</p>.<p>Media.net, a Yahoo Inc ad partner, attracted seven bidders, including a publicly listed company based in the United States.</p>.<p>However, the bid fell through following a substantial decrease in the company's stock value, Turakhia said.</p>.<p>The deal gives Media.net access to the Chinese online advertising market, which is currently the second largest in the world, Turakhia said.</p>.<p>Digital ad spend in China is expected to reach $40.42 billion in 2016, a 30 percent jump from a year earlier, according to research firm eMarketer. (http://bit.ly/2bq2apZ)</p>.<p>Media.net, which is based in Dubai and New York, gets 90 percent of its revenue from the United States.</p>.<p>The company posted revenue of $232 million in 2015, with more than half of that coming from mobile users.</p>.<p>The Chinese consortium will buy Media.net from Turakhia's Starbuster TMT Investments and has already made a payment of $426 million.</p>.<p>The group is led by Zhang Zhiyong, the chairman of telecom firm Beijing Miteno Communication Technology Co.</p>.<p>Miteno's shares have been halted since December.</p>
<p>Advertising technology startup Media.net, founded by tech entrepreneur Divyank Turakhia, said on Monday it had been acquired for about $900 million by a group of Chinese investors.</p>.<p>The deal would represent the third-largest in the ad tech industry, after Alphabet Inc unit Google's acquisition of DoubleClick and Microsoft Corp's deal for aQuantive.</p>.<p>"We got an incredible amount of interest just because ad tech is a large and growing space and, at the same time, the number of companies that have been successful in it have been limited," Turakhia said in an interview.</p>.<p>The company's products, which are licensed by various publishers and ad networks, auto-learn and display the most relevant ads to users.</p>.<p>Media.net, a Yahoo Inc ad partner, attracted seven bidders, including a publicly listed company based in the United States.</p>.<p>However, the bid fell through following a substantial decrease in the company's stock value, Turakhia said.</p>.<p>The deal gives Media.net access to the Chinese online advertising market, which is currently the second largest in the world, Turakhia said.</p>.<p>Digital ad spend in China is expected to reach $40.42 billion in 2016, a 30 percent jump from a year earlier, according to research firm eMarketer. (http://bit.ly/2bq2apZ)</p>.<p>Media.net, which is based in Dubai and New York, gets 90 percent of its revenue from the United States.</p>.<p>The company posted revenue of $232 million in 2015, with more than half of that coming from mobile users.</p>.<p>The Chinese consortium will buy Media.net from Turakhia's Starbuster TMT Investments and has already made a payment of $426 million.</p>.<p>The group is led by Zhang Zhiyong, the chairman of telecom firm Beijing Miteno Communication Technology Co.</p>.<p>Miteno's shares have been halted since December.</p>