Brief: Mastech Digital to acquire InfoTrellis for $55 mln

Mastech Digital

07/07/2017 13:00

July 7 (Reuters) - Mastech Digital Inc  MHH.A  
    * Mastech Digital to acquire InfoTrellis 
    * Mastech Digital Inc - Deal for $55 million 
    * Mastech Digital Inc says funding for transaction will 
consist of a combination of debt and equity 
    * Mastech Digital Inc says new $65 million facility with PNC 
Bank will provide debt financing for transaction 
    * Mastech Digital Inc - Deal for $35.7 million paid in cash 
at closing and $19.3 million deferred over next two years 
    * Mastech Digital - Deferred purchase price is contingent 
upon acquired business generating specified ebit targets during 
two years following closing 
    * Mastech Digital Inc - Funding for transaction will consist 
of a combination of debt and equity 
    * Mastech Digital Inc - Equity financing will be completed 
through a $6 million private placement of newly issued shares of 
co's common stock 
    * Mastech Digital - Terms of private placement were 
negotiated and approved by special committee of independent 
directors, independent financial advisor 
 
Source text for Eikon:  ID:nPn1vsXlca  
Further company coverage:  MHH.A  
 
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