Overseas acquisition does not stop Cyber Media's slide

Cyber Media India slipped 0.13% to Rs 75 at 11:44 IST on BSE even as the company said it has acquired all the assets of TDA Group, Inc., California in a strategic move to expand the services business of the company.

The company made this announcement during trading hours today, 13 March 2008.

The stock hit a high of Rs 75.10 and a low of Rs 75 so far during the day. The stock had a 52-week high of Rs 136 on 7 June 2007 and a 52-week low of Rs 70 on 29 January 2008.

The company’s current equity is Rs 10 crore. Face value per share is Rs 10.

The current price of Rs 75 discounts its Q3 December 2007 annualized EPS of Rs 2.60, by a PE multiple of 28.85.

TDA Group Inc. is a California-based integrated marketing communications and custom publishing company. The company posted revenues exceeding $5 million in the year ended December 2007.

This is Cyber Media’s second acquisition in the US in last 16 months. Cyber Media had acquired Illinois-based Publication Services, Inc. in December 2006.

Cyber Media India’s net profit declined 22.6% to Rs 0.65 crore on 1.8% fall in net sales to Rs 20.27 crore in Q3 December 2007 over Q3 December 2006.

The company provides cyber media services. The group operates in two segments viz media and media services.