QYOU Media To Acquire India Influencer Marketing Firm Chtrbox
QYOU Media (TSXV: QYOU) this morning announced that it has entered into a definitive purchase agreement to acquire that of Chatterbox Technologies. Informally known as Chtrbox, the company is a leading influencer marketing company based within India.
Originally established in 2016, Chatterbox focuses on data driven influencer marketing, providing marketing services for top brands within the country. The company currently has a portfolio consisting of over 300,000 influencers, including digital stars, celebrities, creators, and more. Clients for the firm, among others, consist of Amazon, HP, P&G.
The acquisition is expected to significantly expand the firms current influencer marketing operation within the country. The transaction is expected to be immediately accretive to The Q India’s broadcast network, while also providing support to the firms content, advertising and e-commerce initiatives.
Under the definitive purchase arrangement, the company is to purchase a majority of the issued and outstanding shares of the firm at an undisclosed purchase price. The price to be paid reportedly is based upon an EBITDA multiple for the year ended March 31, 2021 along with a three year earn-out provision.
“In our first conversation with the founders of Chtrbox, it was immediately apparent that we shared common goals about where and how a new media company needs to operate.. .. When we combine this with the knowledge, savvy and digital acumen of the Chtrbox team and their unparalleled knowledge of the world of influencer marketing, it is truly a match made in heaven. As an added bonus we will integrate various aspects of the Chtrbox business with our fast growing US Influencer Marketing group and leverage the best of all of these capabilities.”
Curt Marvis, CEO of QYOU Media
QYOU Media last traded at $0.415 on the TSX Venture.
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