AcquisitionsAug 5, 2026, 08:48 AM
Flash Sports & Media to acquire 51% of Bongo for $25.7M
AI Summary
Flash Sports & Media Holdings, Inc. has entered into a non-binding term sheet to acquire a 51% controlling interest in Bongo Holdings Pte Ltd, a South Asian digital media platform. The proposed acquisition values Bongo at $35.0 million pre-money, with an aggregate closing consideration of approximately $25.7 million, comprising 60% cash and 40% equity. This strategic move aims to integrate Bongo's streaming technology and extensive distribution network, which reaches over 300 million viewers and generates about $10 million in revenue, into Flash Sports & Media's global sports and media ecosystem.
Key Highlights
- Flash Sports & Media to acquire 51% controlling interest in Bongo Holdings Pte Ltd.
- Proposed transaction based on Bongo's pre-money equity valuation of $35.0 million.
- Aggregate closing consideration approximately $25.7 million.
- Consideration includes $15.4 million primary capital and $10.3 million secondary consideration.
- Payment structure is 60% cash and 40% equity securities.
- Potential earnout of up to $12.0 million for Bongo management over three years.
- Bongo currently generates approximately $10 million in annual revenue.
- Bongo reaches over 300 million viewers and has 73 million social media followers.
Price Impact
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