Hyderabad: Brightcom Group Ltd, a leading player 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 and Dev Ops.
Brightcom Group acquired 100% of MediaMint for about Rs 566 crores in cash and stock. Of this Rs 360 crores in cash has to be paid at closing; Rs 170 crores in BCG stock and; 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.
According to press note 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 guide the 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.
Rationale for acquisition
As the Advertising and Technology sector worldwide is witnessing massive growth due to accelerated 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 clients such as Pinterest, New York Times, Netflix, Cox Automotive and Expedia, to name a few.
MediaMint is renowned for its data and metrics-driven approach, enabling it to provide the flexibility, scalability, and efficiency needed to meet and exceed the performance demands of business leaders. MediaMint’s focus on continuous improvement helps deliver EPIC results.
Founded in 2010, MediaMint is a bootstrapped company and has never raised any external capital. It supports display, video, and mobile advertising services for ad agencies, publishers, and platforms. The Company works closely with creative agencies, publishers, media buying firms and analytics platforms to deliver results for top brands. MediaMint has offices in India, Poland and the US.
Brightcom Group (Formerly, Lycos Internet Limited – incorporated in the year Jan-1999) is an Ad-Tech and Software Development Company, actively engaged in providing technical and economical solutions to Digital Advertisement, Marketing and Information Management sectors through tech, New Media, and IoT based businesses across the globe, primarily in the digital ecosystem.
Brightcom client list contains some of the biggest names, i.e. Airtel, British Airways, Coca-Cola, Hyundai Motors, ICICI Bank, ITC, ING, Lenovo, LIC, Maruti Suzuki, MTV, P&G, Qatar Airways, Samsung, Viacom, Sony, Star India, Vodafone, Titan, and Unilever.