Brightcom Group buys digital consulting firm MediaMint for Rs 566 crore.
- ByStartupStory | December 8, 2021
Adtech company, Brightcom has bought out 100% stake of the digital marketing firm, MediaMint in a cash and stock deal. Shareholders of MediaMint will get Rs 360 crore in cash, Rs 170 crore in Brightcom stock and the rest will be paid within a period of 6 months from the deal. The digital consulting firm was bought at an amount of Rs 566 crore.
Chairman of Brightcom Group, Mr. Suresh Reddy said in a statement, “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”
Adtech company Brightcom has about 25 office locations, 1,700 employees and consultants worldwide. Its clients consist of Airtel, British Airways, Coca-Cola, Hyundai Motors, ICICI Bank, ITC, among others. MediaMint has over 1,300 employees and international clients such as Pinterest, New York Times, Netflix, Cox Automotive and Expedia, among others. The acquired company expects its FY22 revenue to be at Rs 187 crore.
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