Hyderabad: Brightcom Group Ltd (BSE (BCG) | 532368 | NSE (INE425B01027), 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.

Transaction Details

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.

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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.

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.

Acquisition Rationale

As the Advertising and Technology sector worldwide is witnessing massive growth due to an accelerating shift to online marketing, propelled by the pandemic. Brightcom's management is proactively expanding its backend capabilities to increase its capacity to capture new opportunities and execute on the strategic needs of its clients globally.

The addition of MediaMint's digital marketing operations experience will strengthen the Brightcom group's backend in supporting the anticipated sharp growth of the business across various sub-sectors of Digital advertising and media.

MediaMint employs over 1300 employees, servicing reputed international clients such as Pinterest, New York Times, Netflix, Cox Automotive and Expedia, to name a few.