Brightcom acquires MediaMint for Rs 566 crore in cash-and-stock deal

Hyderabad-based adtech company Brightcom has acquired 100 per cent of digital marketing firm MediaMint in a cash-and-stock deal of about Rs 566 crore.

According to the definitive agreement, MediaMint shareholders will get Rs 360 crore in cash, Rs 170 crore in Brightcom stock and Rs 36 crore will be paid within six months from closing of the deal.

MediaMint has over 1,300 employees and boasts of international clients such as Pinterest, New York Times, Netflix, Cox Automotive and Expedia, among others. The acquired company expects its FY22 revenue to be at Rs 187 crore.

Its leadership team will continue to