Media company Asahi Shimbun has agreed to purchase Japan-based media content outsourcing services provider Somewrite in a deal that will allow digital media company Gree to exit, The Bridge reported on Monday.
Ashai Shimbun has not disclosed how much it will pay for Somewrite, but The Bridge stated the acquisition is expected to be sized in the “several million US dollars” range.
Founded in 2013, Somewrite operates a native advertising network that takes advertorial pieces from media websites and distributes them to online news partners news that post them as native ads.
Somewrite raised $1.1m in an October 2014 seed round featuring Gree’s corporate venturing subsidiary, Gree Ventures, and Soraseed Startups, an investment vehicle for Somewrite founder and chairman Yasunari Shibata.