Brightcom Group is currently trading at Rs. 172.50, up by 0.30 points or 0.17% from its previous closing of Rs. 172.20 on the BSE.
The scrip opened at Rs. 180.80 and has touched a high and low of Rs. 180.80 and Rs. 170.00 respectively. So far 131821 shares were traded on the counter.
The BSE group ‘T’ stock of face value Rs. 2 has touched a 52 week high of Rs. 204.80 on 24-Dec-2021 and a 52 week low of Rs. 5.53 on 10-Feb-2021.
Last one week high and low of the scrip stood at Rs. 189.45 and Rs. 166.40 respectively. The current market cap of the company is Rs. 20602.83 crore.
The promoters holding in the company stood at 22.40%, while Institutions and Non-Institutions held 1.88% and 75.73% respectively.
Brightcom Group has inked Letter of Intent (LoI) to acquire all the assets of a US-based digital audio firm that owns and operates multiple assets. The company is an integrated digital platform offering several programmed radio stations, various digital brands and digital marketing services in many markets in the US.
This acquisition is immediately EPS accretive by adding $45 million to the topline revenue of Brightcom, and $15 million to its EBIDTA. The synergies between the current Brightcom business and new assets will add to the above numbers. The assets’ acquisition value, including its net cash, is pegged at $102.5 million consisting of $95 million in cash and $7.5 million of BCG stock. The deal is subject to customary financial, legal and business diligence, as well as regulatory approvals, thereafter.
This move will mark the significant entry of the Brightcom Group into this fast-growing digital audio advertising segment. Digital audio advertising includes all ad revenue generated through pre and in-Stream Audio Ads that appear in music (music also contains various radio services) and podcast streaming services. This revenue would include ad-supported free versions of premium subscription services or services funded by advertising.
Brightcom Group has expertise across several verticals, with focus on the following: Financial Services, Healthcare, Manufacturing Chemicals, Life Sciences and Retail.