NewsVoir
Noida (Uttar Pradesh) [India], December 19: 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 the completion of customary due diligence, negotiation, and execution of definitive binding agreements, and required approvals, will be completed by March 1, 2024.
Quint Digital Limited is India's leading digital and media-tech/AI-focussed company. QDL is one of the fastest-growing digital networks where the motive is to create innovative ideas in the space of digital content with innovative technology and formats which are engaging and speak for the people. We are diving in to change the landscape of digital content by creating relevant stories.
QDL also owns a majority stake in Quintype Technologies India Limited, the AI-powered Digital Newsroom Growth Platform that empowers publishers in India, the USA, Europe, the Middle East, and Africa to create, distribute, and monetise their content.
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