Jason riback and aashay paradkar
Brightcom Group acquired 100% of MediaMint for about Rs.566 crores in cash and stock.
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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 help guide the rapid 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.
As the Advertising and Technology sector worldwide is witnessing massive growth due to an accelerating 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.
The Company works on both retainer and services models and has a strong customer outreach strategy to grow the business significantly over the last few years. Strategies around audience-based measurement and tracking are quickly picking up, allowing MediaMint to lend expertise to advertising firms in discovery mode and trying to figure out the best approaches for their campaigns.
"MediaMint's founders Aditya and Neelima, along with the Company's executive management team, have built a top-tier organization. We believe adding them to the BCG family will benefit all parties. I want to take this opportunity to welcome them to our organization," said Peshwa Acharya, President of Brightcom Group.
The Company is divided into three major divisions: (i) Media (Ad-Tech and digital marketing), (ii) Software services, and (iii) Future technologies. The Company's primary clients are end advertisers, agencies and publishers, but also include ad exchanges & networks.
Brightcom has 25 office locations and has about 1700 employees and consultants worldwide.
