Gurgaon based, digital ad network Adfederal Media has entered into an agreement to merge its operations with Lyxel Digital for an undisclosed amount. The combined entity will now be looking for raising series A funding for its data management platform and expanding its sales team across South East Asia.
Dev Batra, Founder & Chief Evangelist, Lyxel will lead the entity as Chief Evangelist whereas Nishith Srivastava, Founder & CEO, AdFederal Media will join in as CTO at Lyxel, to drive its data management platform and to strengthen in-house ad serving capabilities & operations.
With this merger, AdFederal will now operate under Lyxel brand name and the merged entity will focus on developing proprietary algorithms to provide targeted digital solutions for its clients in India, Middle East, Asia Pacific and Africa. Lyxel will also help Adfederal clients to buy digital inventory across the globe including social media, new publishing and travel portals worldwide.
Dev Batra, believes that this merger will help them to gain significant capabilities in behavioural data analytics and running targeted display ads for its clients in future. The company helps brands to reach out to large audience on internet, using its proprietary tools for behavioural and contextual tracking. Lyxel Digital has a seed funding from Dynamis Partners.
AdFederal Media which was started in 2010 is a multi-geography ad-network also working in behavioural analytics based digital advertising thus developing a synergy for the merger.