OPEN APP
Home >Companies >News >Ybrant Digital to change its name to Lycos Internet

Hyderabad: Digital media marketing firm Ybrant Digital Ltd has proposed to change its name to Lycos Internet Ltd, named after the search engine firm Lycos Inc. that it acquired in 2010 for $36 million.

Ybrant wants to change its name in an attempt to bring its digital properties under a well-known brand name.

This will see the consolidation of all its media properties and simplify the identity of the group, the company said in a stock exchange filing.

The name change is subject to approval from shareholder and the registrar of companies.

“Ybrant is a business-to-business brand. Lycos is a consumer brand," Suresh Reddy, chairman and chief executive of Lycos, said in a phone interview.

Ybrant is also changing its brand name to coincide with the company’s focus on building newer products in the fast-evolving Internet landscape.

The Hyderabad-based company has grown inorganically from an online greeting cards company into a digital marketer that services clients such as MTV, Samsung, Viacom, Maruti Suzuki, Airtel, Sony, Coca-Cola, Star India, Vodafone, Samsung Electronics, Lenovo, ING, British Airways, Qatar Airways, Titan, Unilever, Procter and Gamble, Hyundai Motors, ICICI Bank, LIC, and ITC. It has partnership agreements with Facebook, Twitter, LinkedIn, MSN and Yahoo.

The company has made eight acquisitions in five years. Its attempt in 2012 to buy Internet properties, PriceGrabber, LowerMyBills and ClassesUSA.com from Experian Plc for $175 million fell through owing to funding constraints.

Earlier, Ybrant reverse integrated itself with information technology outsourcing provider LGS Global Ltd to list on the stock exchanges as Ybrant Digital Ltd.

Ybrant’s shares fell 4.9% to Rs53.35 on BSE, while the benchmark Sensex declined 0.23% to 26,995.87 points.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout