Mumbai: UTV Software Communications’ board has approved the acquisition of United New Media Ventures.
With the acquisition, United New Media Ventures Limited (UNMVL) will become a wholly owned subsidiary of the company. UNMVL is a newly incorporated company, which is in the business of web and mobile based digital content aggregation, creation and distribution.
In addition, UNMVL will be the digital content distribution platform for all UTV businesses. Overall, UNMVL will operate as an independent business vertical.
Recently, United New Media Ventures has completed the acquisition of IMPL, which has technology based consumer and trade focussed business model positioned as an online technology info mediator in India. UNMVL holds 80 per cent of IMPL.