Vertoz, a global MadTech & CloudTech company, announced that its wholly owned subsidiary, Vertoz Inc. (USA), has signed a definitive agreement to acquire 100% of Webimax LLC (USA), an AI-driven Marketing Automation company headquartered in New Jersey, USA.
Under the terms of the agreement, Vertoz will acquire the business in two tranches. In the first tranche, Vertoz will acquire an 80% stake upfront for $5.28 million (approx. ₹46.8 crore). This amount includes a contingent earn-out of up to $0.4 million (approx. ₹3.52 crore) payable only upon achievement of agreed performance conditions.
The remaining 20% over the next three years, linked to clearly defined performance milestones.
The incumbent Management of Webimax will continue with Vertoz. The agreement is subject to customary closing conditions and is expected to be completed within 90 days.
The transaction values Webimax at a total enterprise value of $6.6 million, representing an attractive EV/Sales multiple of 0.62x. Webimax generated revenues of approximately $12 million in CY24, with an adjusted EBITDA of $2.4 million and adjusted PAT of approximately $1.8 million.
The acquisition is being funded to the extent of 75% of the purchase consideration through debt provided by India’s premier government financial institution, established to finance and promote the country’s international trade and support Indian businesses in their global expansion efforts. 25% of the acquisition shall be funded by Vertoz’s own internal cash flow.
