M&A

M&A

Undone: Brightcom, MediaMint call off Rs 566-Cr deal

BSE Announcement   BusinessLine  

Digital marketing solution companies Brightcom (publicly listed) and MediaMint have decided to call off their INR 566 crore M&A deal. The cash-and-stock deal consummated last year comprised a cash transfer of INR 360 crore and INR 170 crore in Brightcom Group stock. However, the stock value of Brightcom fell sharply after it disclosed that SEBI had ordered a forensic audit into its books after flagging a few issues.