dotDigital Group PLC - London-based online marketing company - Announces the acquisition of Fresh Relevance Ltd, a vendor of cross-channel personalisation technology, for GBP25 million. Deal to be settled with around GBP18.9 million in cash and GBP6.1 million by the issue of 6.9 million shares in Dotdigital at 88.698 pence each, which are subject to a 12 month lock-in. Expects acquisition to add over GBP6.0 million of annual revenue, of which 93% are recurring software as a service revenue, and GBP0.6 million annual earnings before interest, tax, depreciation and amortisation, before integration costs. Sees revenue and cost synergies over the medium term and expects the deal to be earnings enhancing in the financial year ending June 30 2025.
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By Jeremy Cutler, Alliance News reporter
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dotDigital Group (DOTD)