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Mumbai, Nov 26 (PTI) MadTech and cloudtech company Vertoz Ltd on Wednesday said it has signed a definitive agreement to acquire 100 per cent stake of marketing automation company Webimax Llc at an enterprise value of USD 6.6 million (around Rs 59 crore).
Under the terms of the agreement, Vertoz Inc, a wholly owned subsidiary, will acquire the business of New Jersey-based Webimax in two tranches - around 80 per cent stake for Rs 46.8 crore in the first phase and the remaining 20 per cent over the next three years, linked to clearly defined performance milestones, a company statement said.
The incumbent Management of Webimax shall continue with Vertoz, it added.
The acquisition is being funded to the extent of 75 per cent of the purchase consideration through debt provided by India’s premier government financial institution and 25 per cent of the acquisition shall be funded by Vertoz's own internal cash flow.
The acquisition may add approximately USD 9.5 million (Rs 87 crore) revenues to Vertoz's existing approximately Rs 300 crore of annualised revenues and Rs 17 cr of annualised PAT to profits, Vertoz said.
“This acquisition not only strengthens our position in the competitive digital marketing landscape globally and significantly amplifies our capabilities in the US market. Webimax’s expertise and values align perfectly with ours, enabling us to deliver broader, connected, and more relevant digital solutions to our clients,” Ashish Shah, Director, Vertoz Limited said.
Vertoz is a global MadTech and CloudTech powerhouse, delivering AI-driven solutions across advertising, marketing, media monetization, digital identity, and cloud infrastructure. PTI IAS MR
Vertoz acquisition of Webimax for $6.6M in two tranches with performance linked earnout and 75% debt funding. Vertoz Ltd will acquire 100% of Webimax LLC for an enterprise value of USD 6.6 million via Vertoz Inc., acquiring ~80% now for Rs 46.8 crore and the remaining 20% over three years tied to performance milestones; incumbent management will remain. Financing comprises 75% debt from a government financial institution and 25% from Vertoz's internal cash flow, with the acquisition expected to add about USD 9.5 million in revenues and Rs 17 crore in annualised PAT.
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<h1>Vertoz acquisition of Webimax for $6.6M in two tranches with performance linked earnout and 75% debt funding.</h1> Vertoz Ltd will acquire 100% of Webimax LLC for an enterprise value of USD 6.6 million via Vertoz Inc., acquiring ~80% now for Rs 46.8 crore and the remaining 20% over three years tied to performance milestones; incumbent management will remain. Financing comprises 75% debt from a government financial institution and 25% from Vertoz's internal cash flow, with the acquisition expected to add about USD 9.5 million in revenues and Rs 17 crore in annualised PAT.
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