Saregama to acquire Peak XV-backed Pocket Aces valuing digital content startup at Rs 334 crore

Indian music label Saregama will acquire a 52% stake in Mumbai-based digital content producer Pocket Aces for Rs 174 crore in an all-cash deal, valuing the startup at Rs 334.6 crore, according to a stock exchange filing.

Saregama will invest another Rs 15 crore for an issue of fresh shares, in addition to a secondary purchase of shares from some of the existing shareholders, taking its stake to 92.61%.