Saregama India is all set for majority acquisition in a fast-growing digital entertainment company Pocket Aces Pictures, that owns direct relationship with 95M+ younger digital-first customers across Instagram, YouTube etc. Saregama will acquire 51.8% shares for around Rs 174 crore with a clear path to further acquire another around 41% stake in next 15 months at pre-agreed multiples. The transaction is an all-cash deal.
This acquisition will further strengthen Saregama’s strategic ambition to take leadership position in New Music across all Indian languages. Acquiring Pocket Aces will add on a whole new dimension of IP and a distribution network of over 95 million followers, which Saregama will leverage to further popularize its music library among the 18-35 audience segment. It will also create synergies across the artiste & influencer management and long-format video creation businesses of the two companies.
Saregama India engaged in manufacturing, selling and dealing of gramophone records, radio receivers, radiograms, record players, record producers, pick-up cartridges, components and accessories thereof and other allied products.
| Company Name | CMP |
|---|---|
| PVR | 938.05 |
| Saregama India | 344.55 |
| Shemaroo Entertain. | 105.35 |
| Balaji Telefilms | 94.39 |
| UFO Moviez | 72.06 |
| View more.. | |
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