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Quint Digital Limited (QDL), a new-age digital media-technology group listed on an Indian stock exchange, via its newly formed 50:50 US joint venture with Cognita Ventures LLC, Quintype Technologies Inc., has entered into a definitive agreement with Listen First Media LLC to acquire the entire business operations including technology platform, brand, IP, domain name, customer contracts, employees etc.
The transaction, according to a media statement from QDL, is expected to be consummated by March 1, 2024.
Listen First Media is a premier social media and digital analytics platform headquartered in New York with a strong team of 75+ professionals. It was founded in 2012 to guide the way brands make decisions with large datasets from social media. It consolidates social media analytics from all major social channels and assists major brands to maximize their social media ROI.
Along with Quintype, Listen First will become the second SaaS based product from QDL’s media-tech stable, the press release added. QDL expects to exploit synergies between these two media-tech platforms and their potential global footprints. Listen First’s marketing and sales prowess is also expected to power a successful launch of Quintype in North America’s large CMS (Content Management Systems) market for digital publishers.
To give effect to the above acquisition, Quint Digital Limited has, via its wholly owned subsidiary Global Media Technologies Inc., entered into a binding term sheet with Cognita Ventures LLC to set up Quintype Technologies Inc., a media-tech company incorporated in Delaware, as a joint Venture.
On completion of the transaction, Global Media Technologies Inc., will acquire 50 percent stake in Quintype Technologies Inc for an aggregate consideration (in form of debt and equity) of USD 2.25 million. This transaction is expected to be closed by March 31.
Quint Digital Limited is a leading Indian digital and media-tech/AI-focused company. QDL owns a majority stake in Quintype Technologies India Limited, the AI-powered digital newsroom growth platform that empowers publishers in India, the USA, Europe, the Middle East and Africa to create, distribute and monetise their content.
Cognita Ventures LLC is a private angel investing syndicate set up by leading Indian-American technology professionals from the USA.
