TIW Private Equity buys majority stake in digital marketing firm Digital Refresh Networks for $6 million

MUMBAI: Indian buyout firm TIW Private Equity has acquired a majority stake in Mumbai-based digital marketing firm Digital Refresh Networks (formerly Digital F5) for $6 million or about Rs 40 crore.

The cash-and-stock deal for a 60% stake at present will give Digital Refresh Networks bandwidth to strengthen core services and for acquisitions.

Mohit Ralhan, managing partner and chief investment officer at TIW Private Equity, said his company is sector agnostic and looks at opportunities which are return on equity (ROE) positive.

“Digital Refresh Networks has a highly capable team and the company has been able to acquire and retain quite a few marquee clients, which gives us a lot of confidence as far as business sustenance goes. It is growing fast and on the path to profitability this year,” Ralhan told ET.