Brightcom group goes for organisational restructuring to help streamline fund flows

Brightcom, formerly known as Ybrant Digital, has decided to restructure by pooling almost all of its foreign subsidiaries and bringing them under one firm.

Of the 16 subsidies it has in the group, 12 will be brought under a newly-formed US entity. The board of directors will consider a proposal to appoint an auditor to advise on the restructring. The new foreign entity will be wholly owned by the Indian listed company.

Brightcom, which deals with solutions for digital media, digital marketing, artificial intelligence and machine learning, hopes that the new structure would help improve streamlining of fund flows.

The firm says funds to the tune of Rs 700 crore are struck in receivables.