Hyderabad, July 8th, 2021: Brightcom Group (NSE: BCG | BSE: 532368), the global Internet brand, has signed a Letter of Intent to acquire a Digital Marketing Services company based out of India with 1100 employees and premium clients such as Netflix, Disney, Bitly, Hulu and The New York Times. The details regarding the name of the target company have been kept confidential in light of the confidentiality clause of the LOI. A definitive agreement will follow after the completion of the customary business, legal and financial due diligence.
The Target company partners with clients for their product strategy, product development and operational support needs. The company does display, video and mobile advertising for ad agencies and publishers. The company works closely with creative agencies, media buying firms and analytics suites to deliver results for top brands. They operate out of India, US and Europe. Their presence in the US and Europe helps them to be in touch with the latest developments in the advertising space in mature markets.
Strategies around audience-based measurement and tracking are quickly picking which allows them to lend expertise to ad firms that are still in discovery mode and figuring out how these new approaches apply to their campaigns. It is a niche partner to large ad agencies that are looking to fulfill the digital component of their overall budget. The company works on both retainer as well as services model, and actively participates in reaching out to clients for business.
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. 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.