Ybrant Digital To Bid On US-Based Direct Marketer Media Breakaway: Report
By Joseph Weisenthal - Mon 21 Jul 2008 10:46 AM PST
Here’s an odd one… Ybrant Technologies, the Hyderabad-based digital marketing firm, is reported looking to buy Media Breakway, the US direct marketing firm with a spammy past. The Economic Times says that Ybrant would offer $100 million for the firm, headed up by Scott Richter. The firm could enlist an outside financial sponsor, like a PE Firm, to help fund the deal, and it may do it in steps: acquiring a partial chunk before buying the whole thing. When contacted by ET, YbrantCEO Suresh Reddy said: “We are evaluating the possibility of acquiring a company in the US. We are in discussions with a few firms there and the deal size will be about $100 million. However, we are yet to finalise our acquisition target.”
If Media Breakaway is the target, it’ll be an odd move for the company, which has made a few international deals over the last year. Just last week, the company paid a $6 million settlement to MySpace for its past activities. And while the company may not be spammer, it will carry this cloud over its head for awhile, as it operates in another field that frequently comes under the microscope.
Posted in: Advertising, Mergers & Acquisitions
