Ybrant-LGS merger gets "in-principle' nod from the Exchanges

Ybrant Digital Limited (Privately held) and LGS GLOBAL LIMITED (BSE: 532368) announced today the 'in-principle' approval from the Bombay Stock Exchange (BSE) and Madras Stock Exchange (MSE). This marks the completion of the second stage in the three-stage merger approval process between the two companies.

The company is getting ready to file with the high courts of Andhra Pradesh to facilitate the approval process with the general bodies of both the companies. As per the scheme of amalgamation, the combined entity will be rechristened to Ybrant Digital Limited.

Suresh Reddy, Chairman & CEO of Ybrant Digital will lead the combined company post the merger subject to statutory approvals. Speaking on the occasion, "It marks the completion of an important next stage in the merger process" said Reddy. He also added "The combined company will continue to focus on the digital marketing and media opportunities globally."

The marketing through the digital media is the fastest growing area in the advertising industry. The size of the global market is currently at $68 billion per year and slated to grow to $100 billion by year 2015.

Ybrant is uniquely positioned to take advantage of this opportunity, with the right mix of reach and technology. The company will look to grow the business through organic and inorganic means. Ybrant Digital has acquired and successfully integrated seven companies in the last 5 years. The company has raised over $100 million in equity and debt from some of the top PE funds. Ybrant's shareholders include premium institutional investors like Oak Investment Partners, Asia Pacific Capital among others.