Exhicon On Growth Spree, Adds NICE To Portfolio
Exhicon Events Media Solutions acquires a majority 51 per cent equity stake in Nucleus Integrated Communication and Entertainment Private Limited (NICE Solutions). The Business Acquisition Agreement, officially signed on March 6, 2024, paves the way for enhanced capabilities and enriched service offerings for Exhicon.
NICE Solutions, founded by Sameer Shinde and Suraj Bhanushali, is known for crafting immersive experiences in exhibitions and conferences, digital marketing, audio-visual productions and brand communication. The acquisition is expected to fortify Exhicon's market position, leveraging NICE Solutions' decade-long expertise and a client portfolio, including CRISIL Foundation, Pratham Infotech, Lodha Foundation and Bajaj Infotech.
M Q Syed, Chairman & Managing Director of Exhicon Group stated, “I am excited about this acquisition as Core services of NICE Solutions & expertise of the founders are the missing pieces in Exhicon's 360-degree event solutions offerings. It would have taken a couple of years for us to build this capability, so the acquisition is a perfect fit for the Exhicon."
The agreement, subject to specific condition precedents, outlines a comprehensive plan to integrate the strengths of both entities.
Padma Mishra, promoter of Exhicon, expressed excitement about the acquisition, stating, "This acquisition will add strategic value to Exhicon’s service portfolio by adding the Audio Visual Productions, Digital Marketing and Brand Communication Services to Exhicon's growing 360 degree offerings."
The acquisition is in line with Exhicon’s vision to establish a top leadership team with experience in providing 360-degree solutions to its growing clients across Asia and the Middle East.
As per the disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Exhicon has complied with the necessary regulatory requirements.
