Excl: HT Media arm buys digital media marketing business of Bluelemon Technologies
HT Mobile Solutions Ltd, a subsidiary of HT Media Ltd, has acquired the digital media marketing business of Lucknow-based Bluelemon Technologies Pvt Ltd, which provides web- and desktop-based applications to enterprises, a source close to the development told Techcircle.in.
The financial details of the transactions could not be immediately ascertained.
An email query sent to HT Media spokesperson didn't elicit any response. Bluelemon co-founder Santosh Kumar replied, "I will update you on this next weekâ€¦Currently I can't confirm any details on this."
Founded in 2009 by Kumar, along with Girish Mahajan and Mahesh Singh, Bluelemon provides web development, application development, quality assurance and testing services to enterprises. Its clientele includes Denver, Zopag and Intex, as per its website.
Kumar holds an MBA in marketing, while Mahajan holds a PG Diploma in advertising and public relations. Kumar and Mahajan also co-founded Buzzref.com, an open analytic tool for Facebook, and Webitude, a digital marketing agency. Singh holds a degree in Computer Science.
HT Mobile Solutions offers value added services, digital content distribution and digital marketing on mobile. It involves QR codes and application development for smart-phone platforms. It has been looking to develop competencies in augmented reality and windows application development platforms. It also plans to venture into location-based programming and ad networks.
It had Rs 11 crore in revenues for the year ended March 31, 2012 or a quarter of all digital media revenues of HT Media for the year. HT Media owns 65 per cent of HT Mobile Solutions.
For the media firm, this would be yet another deal involving the digital media business. Earlier it struck a deal to acquire a large strategic stake in MyParichay, which expanded the social media integration for its existing job site Shine.com.
(Edited by Joby Puthuparampil Johnson)