Vertoz to acquire US-based Webimax in a USD 6.6 million deal

New Delhi: Vertoz has signed a definitive agreement to acquire the full stake of US-based marketing automation company Webimax LLC for an enterprise value of USD 6.6 million (approximately Rs 59 crore).

The company said the acquisition will be executed through its wholly owned subsidiary, Vertoz Inc, in two phases. The first tranche covers around 80 per cent of the stake for Rs 46.8 crore, with the remaining 20% to be acquired over the next three years based on defined performance milestones.

According to the statement, the existing Webimax management team will continue with Vertoz following the acquisition. The transaction will be funded through a mix of debt and internal resources, with 75% financed by a leading government financial institution and the balance drawn from Vertoz’s cash flows.

Vertoz said the acquisition is expected to add around USD 9.5 million (Rs 87 crore) in revenue to its existing annualised revenue base and contribute approximately Rs 17 crore to annualised profit after tax.

“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, said.