Companies

Brightcom Group buys digital consulting firm MediaMint for ₹566 cr

K. V. Kurmanath | | Updated on: Dec 07, 2021
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Co’s client list includes New York Times, Pinterest, Netflix; FY22 to end on high note

Brightcom Group Limited, formerly known as Ybrant Digital, has acquired MediaMint, which offers digital consulting and operations services, for ₹566 crore. The cash-and-stock deal includes ₹360 crore in cash and Rs ₹170 crore in Brightcom Group stock. Another ₹36 crore will be paid in six months from the closing of the deal.

Founded in 2010, Vuchi Media Private Limited, which owns the MediaMint brand, 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 employs over 1,300 employees, servicing reputed international clients such as Pinterest, New York Times, Netflix, Cox Automotive and Expedia, and is expected to close FY22 with revenues of ₹187 crore.

“After the acquisition, MediaMint will continue its strong trajectory, serving its growing list of enterprise and market-leading clients,” a senior Brightcom Group executive said in a statement on Tuesday.

"MediaMint will enable us to build more robust solutions and bring them to our customers faster. Additionally, we see the potential for strong organic growth in MediaMint's backend services business as well,” Suresh Reddy, chairman of the Brightcom Group, said. “They have built an excellent operation that can scale easily due to their high-quality systems. The acquisition will immediately and meaningfully add to our earnings,” he added.

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“Brightcom's history of developing and growing technology and operations business fits well with our ambition to expand the capabilities and access to talent in new regions,” Neelima Marupuru, co-founder of MediaMint, said.

Post acquisition, 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,” he said.

Published on December 07, 2021

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