Ybrant Technologies, a technology solutions provider for online advertisers, has announced the acquisition of an online ad network, AdDynamix in exchange for cash and promissory notes worth USD 10 million (about Rs 45 crore).

Ybrant, based in Hyderabad, is in the process of finalising plans for a public issue and filing a draft offer document with the Securities and Exchange Board of India.

This could happen before this fiscal. The company also hinted at the possibility of another acquisition shortly.

Disclosing this at a press conference on Monday, the chairman of Ybrant, Suresh Reddy, said, "Given the deep network reach and the premier client roster of AdDynamix, we believe this acquisition will accelerate Ybrant's opportunity and impact in the digital marketing arena."

This acquisition falls directly in line with Ybrant's strategy of offering comprehensive end-to-end digital marketing services to direct marketers, brand advertisers and marketing agencies.

The Founder and CEO of AdDynamix, Benoit Pecqeur, said, "Joining with Ybrant allows us to leverage the resources and talent pool of a large company to expand our technology and serve our existing clients in new ways and reach broader sets of key publishers and deliver incredible value to advertisers."

The network has over 2,000 publishers grouped into a dozen content channels.

They help reach the right people at the right place and at the right time and maximise reach and communication goals.

AdDynamix, an interactive advertising network, delivers ad management, video and digital media services to agencies, entertainment clients and direct marketers.

As per the latest Media Metrix rating of Ad Focus properties, AdDynamix was ranked at 19th and 11th among the advertising networks, reports The Hindu Business Line.