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V. Rishi Kumar

Hyderabad, June 10 Ybrant Digital, a technology and marketing related services provider for Internet, is close to acquiring a US-based digital marketing company for about $100 plus million (over Rs 400 crore) shortly.

The company is sewing up a $50-million private equity deal and the rest is being funded through debt. The deal is structured in such a way that the pay out would be made over a year, Mr Suresh Reddy, Founder-Chairman of Ybarnt, told Business Line.

The company, earlier named Ybrant Technologies Ltd, had filed for Draft Red Herring prospectus to raise about Rs 200 crore through an initial public offer in India. However, with the market conditions currently not conducive, it has since withdrawn its application.

“As a company, Ybrant has had an acquisition-led growth. Thus far we have acquired four firms — Medios One, Oridian, AdDynamics and VoloMP. The merger process has been completed and operations restructured under one flagship brand. The company name has changed from Ybrant Technologies to Ybrant Digital that reflects the company’s core business,” Mr Reddy said.

Following the restructure process, the company’s US headquarters based in Palo Alto is being shifted to Los Angeles, a centre that the company added through the acquisition of AdDynamics.

More Stories on : Mergers & Acquisitions | Overseas Investments | Software

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