Brief: Acast Acquires U.S. Network Backyard Ventures
BRIEF-Acast Acquires U.S. Network Backyard Ventures Aug 12 (Reuters) - Acast AB (publ) ACAST.ST:
SAID ON TUESDAY ACQUIRES BACKYARD VENTURES, U.S. NETWORK
ACQUISITION STRENGTHENS ACAST'S POSITION AS THE WORLD'S LARGEST PURE-PLAY PODCAST COMPANY, EXTENDS ITS ABILITY TO MONETIZE PODCASTERS ACROSS EVERY CHANNEL
ACQUISITION GIVES ACAST A PRESENCE IN AUSTIN, A STRATEGICALLY IMPORTANT PODCAST MARKET IN THE U.S.
TOTAL CONSIDERATION IS $20 MILLION, COMPRISING $16 MILLION IN CASH PAYABLE AT CLOSING AND $4 MILLION IN THE FORM OF ACAST SHARES PAYABLE ON A DEFERRED SCHEDULE
BACKYARD VENTURES GENERATED $16.1 MILLION IN REVENUE IN 2025, REPRESENTING A REVENUE CAGR (COMPOUND ANNUAL GROWTH RATE) OF 65% SINCE 2023, WITH ADJ. EBITDA MARGIN OF 12%
ACQUISITION NOT EXPECTED TO HAVE MATERIAL IMPACT ON ACAST'S FINANCIAL POSITION OR SHORT-TERM FINANCIAL RESULTS, BUT IS ANTICIPATED TO DELIVER SIGNIFICANT STRATEGIC VALUE OVER LONGER TERM
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