Brightcom Group Limited an Ad-Tech industry player on Tuesday announced the signing of a definitive share purchase agreement to acquire 100 per cent of Vuchi Media Private Limited, operating under the brand name of MediaMint for about Rs 566 crore.
According to a press release issued by the city-based firm, the acquisition will be done by paying Rs 360 crore in cash at closing, Rs 170 crore in BCG stock and Rs 36 crore to be paid in six months from closing.
MediaMint is an end-to-end digital consulting and digital operations provider specialising in Ad Operations, Campaign Management, Creative Services, Data Analytics, Platform Support, Dev Ops, and more. MediaMint’s Revenue for the FY22 March ending is expected to be Rs. 187 crore.
Suresh Reddy, Chairman of the Brightcom Group said MediaMint will enable BCG to build more robust solutions and bring them to its customers faster.
”Additionally, we see the potential for strong organic growth in MediaMint’s backend services business as well,” Reddy said. Neelima Marupuru, Co-founder of MediaMint said ”Brightcom’s history of developing and growing technology and operations business fits well with our ambition to expand the capabilities and access to talent in new regions.” Tempus Legal is serving as the legal counsel and EY as exclusive financial advisor to Brightcom Group in this transaction.
Sathguru Management Consultants acted as sole transaction consultant for MediaMint.