Brightcom Group Acquires, MediaMint, A Digital Marketing Operations Company for 566 Crores1 year ago Saritha Keshamoni
Brightcom Group Limited (NSE: BCG | BSE: 532368), the leader in the Ad-Tech industry, has announced the signing of a definitive share purchase agreement to acquire 100% of Vuchi Media Private Limited, operating under the brand name of MediaMint.
MediaMint is an end-to-end digital consulting and digital operations provider specializing in Ad Operations, Campaign Management, Creative Services, Data Analytics, Platform Support, Dev Ops, and more.
Brightcom Group acquired 100% of MediaMint for about Rs.566 crores in cash and stock.
- Rs. 360 crores in cash to be paid at closing.
- Rs. 170 crores in BCG stock.
- Rs. 36 crores to be paid in six months from closing.
MediaMint’s Revenue for the FY22 March ending is expected to be Rs. 187 crores. After the acquisition, MediaMint will continue its strong trajectory serving its growing list of enterprise and market-leading clients. MediaMint’s leadership team, including Neelima Marupuru, Anush Kumar, Jason Riback and Aashay Paradkar, will continue to help guide the rapid growth of the business. Aditya Vuchi, Co-founder, will stay on for six months to ensure a smooth transition.
“MediaMint will enable us to build more robust solutions and bring them to our customers faster. Additionally, we see the potential for strong organic growth in MediaMint’s backend services business as well. They have built an excellent operation that can scale easily due to their high-quality systems. Further, the acquisition enhances our M&A strategy by having a more robust backend support model to improve future targets’ operating efficiencies and expedite other synergy realization efforts. The MediaMint acquisition will be immediately and meaningfully accretive to our earnings,” said Suresh Reddy, Chairman of the Brightcom Group.
“We are excited to join the Brightcom Group,” said Neelima Marupuru, Co-founder of MediaMint. “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.”