Brief: Marchex Acquires Sonar Technologies Inc

Marchex

17/12/2019 21:09

Dec 17 (Reuters) - Marchex Inc  MCHX.O :
    * MARCHEX ACQUIRES SONAR TECHNOLOGIES, INC.
    * MARCHEX INC - DEAL FOR CONSIDERATION OF $12.5 MILLION IN A
COMBINATION OF CASH AND STOCK AND UP TO AN ADDITIONAL $1.5
MILLION IN STOCK
    * MARCHEX INC - MARCHEX DOES NOT EXPECT ACQUISITION TO HAVE
ANY
MEANINGFUL IMPACT ON ITS RESULTS OF OPERATIONS FOR REMAINDER OF
2019
    * MARCHEX - WILL ISSUE RESTRICTED STOCK UNITS UP TO $1
MILLION TO
CERTAIN EMPLOYEES OF SONAR TECHNOLOGIES SUBJECT TO VESTING OVER
4 YEARS
    * MARCHEX INC - EXPECTS AMORTIZATION OF INTANGIBLE ASSETS
FROM
ACQUISITION WILL IMPACT GAAP RESULTS
    * MARCHEX - DOES NOT EXPECT ACQUISITION TO HAVE ANY
MEANINGFUL
IMPACT ON ITS RESULTS OF OPERATIONS FOR REMAINDER OF 2019
    * MARCHEX -  FOR 2020, SEES DEAL TO HAVE A SMALL ACCRETIVE
IMPACT
TO ADJUSTED. OIBA ON NON-GAAP BASIS AND NO IMPACT TO OPERATING.
INCOME EXCLUDING AMORTIZATION
    * MARCHEX - ADDITIONAL SYNERGIES FROM TRANSACTION ARE
ANTICIPATED
BEYOND 2020 EARNOUT PERIOD

Source text for Eikon:  ID:nBwbcVCJfa 
Further company coverage:  MCHX.O 

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