MUMBAI: UTV Software Communications’ wholly owned subsidiary United New Media Ventures has completed the acquisition of IMPL.
United New Media Ventures is focussed on the internet, new media and digital activities.
IMPL has technology based consumer and trade focussed business model positioned as an online technology infomediary in India.
This business model focuses on the target age group of 15-35 and as per UTV, this is highly synergistic to its business. The acquisition by UNVML of IT Nation was through a combination of acquisition of equity shares from the existing promoters of IT Nation and subscription to fresh equity shares of IT Nation.
Post completion of acquisition process UNMVL will hold 80 per cent of IMPL.