M&A

M&A

Brightcom to buy assets of US digital audio firm for $102.5 M

BSE Release  

Hyderabad-headquartered digital marketing solutions firm Brightcom Group is to acquire all the assets of an unnamed US-based digital audio firm, valuing the deal at around USD 102.5 million (approximately INR 765 crore), consisting of USD 95 million in cash and USD 7.5 million in stock. This acquisition is immediately EPS accretive by adding USD 45 million to the topline and USD 15 million to EBITDA. Houlihan Lokey and Lerman Senter have acted as the advisors to the deal on the transaction side and legal side. The acquired assets will become a part of Brightcom Group's US operating entity under the new division of Brightcom Audio, headed by Satish Cheeti. The target is a multi-platform digital audio company that owns and operates multiple assets, including digital audio. It is an integrated digital platform offering several programmed radio stations, various digital brands and digital marketing services in many markets in the US.