M&A

M&A

Brightcom Group buys digital marketing brand MediaMint for Rs.566-Cr

BSE Release  

Publicly-listed Brightcom Group (formerly Lycos Internet) is to acquire 100% of fellow Hyderabad-based Vuchi Media Pvt Ltd, a digital marketing and technology services provider operating under the MediaMint brand, for INR 566 crore. The cash-and-stock deal includes INR 360 crore in cash and INR 170 crore in Brightcom Group stock. Another INR 36 crore will be paid in six months from the closing of the deal. Tempus Legal is serving as the legal counsel and EY as exclusive financial advisor to Brightcom Group in this transaction. Sathguru Management Consultants is the sole transaction consultant for MediaMint. Founded in 2010, MediaMint posted FY21 revenues of INR 96.61 crore. Its revenue for FY22 is estimated to hit INR 187 crore. Post deal, MediaMint's co-founder Aditya Vuchi will stay on for six months to ensure a smooth transition. MediaMint employs over 1,300 people, servicing international clients such as Pinterest, New York Times, Netflix, Cox Automotive and Expedia.