DLA Piper advises Gruner + Jahr on the acquisition of the leading Indian digital marketing company NetworkPlay
29 Mar 2012
DLA Piper has advised the Gruner + Jahr publishing group on the acquisition of a majority shareholding of 70 per cent in the Indian marketing network NetworkPlay. Through this strategic investment, Gruner + Jahr is strengthening its position in the growing Indian media and advertising market. Seller of the specialist in digital advertising solutions was Capital18, the venture capital arm of the Indian media group Network18.
The Gruner + Jahr publishing group, which is headquartered in Hamburg, is a majority holding of the Bertelsmann corporation, the largest media enterprise in Europe. With more than 300 newspapers, journals and magazines as well as over 150 websites in more than 30 countries, Gruner + Jahr is one of the most international publishing houses in the world. In 2010 Gruner + Jahr, with its 13,300 employees, generated a turnover of €2.55bn making it the largest German publisher in terms of sales.
NetworkPlay was founded in 2008 by Webchutney, India’s leading agency for digital advertising, and was capitalized by Capital18. Since then the Delhi-based digital marketing company with branches in Mumbai and Bangalore has developed into one of the fastest growing suppliers of digital advertising in India. NetworkPlay offers solutions for all digital advertising platforms (online, mobile and direct-to-home) in the fields of brand advertising and performance marketing.
"Thanks to its special expertise on the Indian market, the DLA Piper India Group is definitely one of the top addresses in Germany in this field. The good working relationship with the team around Benjamin Parameswaran has helped immensely in bringing the transaction to a successful conclusion,” says Dr. Frank Ludwig, LL.M., corporate counsel at Gruner + Jahr.
The team of DLA Piper under the management of partner Dr Benjamin Parameswaran (Corporate, Hamburg/Cologne) consisted of partner Dr Daniel H. Sharma (Litigation & Regulatory, Frankfurt am Main/Brussels), with both of the aforementioned belonging to the DLA Piper India Group, together with the associates Sebastian Decker, LL.M. and Christopher Albien (both Corporate, Hamburg).
The DLA Piper India Group for continental Europe is headed up by Dr Parameswaran und Dr Sharma, who have extensive experience in providing support for European clients during their activities in India as well as for Indian clients with activities in Europe.
In India, lead advisor DLA Piper worked together with the law firm Amarchand & Mangaldas in Delhi. The Amarchand team was headed by partner Jatin Aneja and also consisted of the associates Vidyut Gulati and Varun Nair.
The Gruner + Jahr inhouse legal team was led by Dr Frank Ludwig, LL.M.
The Capital18 Group, as the seller of NetworkPlay, was advised by BMR Advisors.