Quint Digital Ltd to acquire majority stake in leading digital content management system company

Quint Digital Limited ("QDL") has entered into an exclusive, non-binding Letter of Intent to acquire a significant majority stake in the leading Digital Content Management System and Services group having a presence in the Middle East, Far East and African regions, at a valuation of ~ USD 10 Million (subject to due diligence/customary adjustments etc.). The non-binding Letter of Intent provides an exclusive negotiation period of 90 days during which QDL will conduct necessary due diligence and negotiate definitive, binding agreements. Preliminary diligence, which is subject to confirmation, shows that the target company is profitable, and the acquisition is expected to be strongly EPS accretive.

QDL had in August 2023 rebranded itself as a pure play 'digital' company' to resonate better with its vision, strategy, and digital focus. The proposed acquisition is in-line with the strong pivot made by the Company towards being a digital and media-tech/AI-focussed company.

It is anticipated that the final transaction subject to completion of customary due diligence, negotiation, and execution of definitive binding agreements, and required approvals, will be completed by March 1, 2024.

Shares of Quint Digital Media Ltd was last trading in BSE at Rs. 147.80 as compared to the previous close of Rs. 145.75. The total number of shares traded during the day was 5565 in over 79 trades.

The stock hit an intraday high of Rs. 149.60 and intraday low of 145.00. The net turnover during the day was Rs. 823852.00.

Source : Equity Bulls

Keywords

QuintDigitalMedia INE641R01017 Acquisition MajorityStake DigitalContentManagementSystem MiddleEast FarEast Africa