Future is taking a major step towards realising its US ambitions with the acquisition of Purch for $132.5m/£100.1m, fully funded by a rights issue of 3 new for 4 existing shares at 303p. The purchase fits neatly with Future’s existing media brands and tech-enabled culture and expands the US revenue base to around half of group (historic pro-forma). The purchase price represents 2.1x Purch’s CY17 revenues, 13.1x EBITDA, and management expects the transaction to be materially
18 Jul 2018
Future - US Purch-ase
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Future - US Purch-ase
Future plc (FUTR:LON) | 624 -46.8 (-1.2%) | Mkt Cap: 718.3m
- Published:
18 Jul 2018 -
Author:
Fiona Orford-Williams -
Pages:
9
Future is taking a major step towards realising its US ambitions with the acquisition of Purch for $132.5m/£100.1m, fully funded by a rights issue of 3 new for 4 existing shares at 303p. The purchase fits neatly with Future’s existing media brands and tech-enabled culture and expands the US revenue base to around half of group (historic pro-forma). The purchase price represents 2.1x Purch’s CY17 revenues, 13.1x EBITDA, and management expects the transaction to be materially