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$900M sale for a Dubai HQ’d company

Lucy Knight •

Arabic

$900M sale for a Dubai HQ’d company

Serial entrepreneur Divyank Turakhia's Media.net has been sold for approximately $900 million.

Media.net, who have their global headquarters in Dubai, announced the all-cash transaction earlier this week. A statement from Media.net said the sale to a Chinese consortium “completes the first step toward Media.net being acquired by, and integrated into, Beijing-based Miteno”.

A deal in the desert. (Image via Media.net)

"Our team has spent the last several years putting together one of the most comprehensive platforms for ad tech, and we are just getting started,” Turakhia said on the Media.net site.

With offices in New York, LA,  Zurich, Mumbai and Bangalore this sale is going to fuel the global expansion of his holding company Directi.

Directi, founded in 1998 with a $372 loan from his father, Divyank and his brother Bhavin have built the business up to include companies that cover the sectors of advertising, telecommunications, and online payments.

 

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