Brightcom signs LoI to acquire large digital services firm

Hyderabad headquartered listed digital marketing solutions firm Brightcom Group has on Thursday announced signing a letter of intent to acquire a large Indian digital services firm with 1,100 employees that counts premium clients like Netflix, Disney, Bitly, Hulu and The New York Times, among others.

The $350 million Brightcom Group in revenues last fiscal said it is currently doing the customary business, legal and financial due diligence to complete the acquisition soon, while keeping the identity of the target company under wraps citing a confidentiality agreement.

The target company, which partners with clients for product strategy, product development and operational support needs, works closely with advertising agencies, media buying firms and analytics suites to deliver results for top brands.


With a presence in the US and Europe, the target company helps its clients be in touch with the latest developments in the advertising space in mature markets, said Brightcom Group.

“While the mass media budgets are shrinking, every brand is willing to look the digital way for ads that can be measured for its effectiveness,” said Brightcom. “Blindly buying slots on television and print with a 'spray and pray' strategy has witnessed a setback, and display, video and mobile advertising, where consumers are spending more time on and can be tracked effectively have thrived in this economic climate.”