Brief: Media And Games Invest(MGI) Acquires Freenet Digital GmbH As Part Of A Strategic Partnership With freenet AG

Mgi Media and Games Invest Se

28/08/2020 01:44

Aug 27 (Reuters) - MEDIA AND GAMES INVEST PLC  M8G.DE :
    * ACQUIRES FREENET DIGITAL GMBH AS PART OF A STRATEGIC
PARTNERSHIP
WITH FREENET AG
    * PURCHASE PRICE FOR FREENET DIGITAL GMBH IS IN UPPER
SINGLE-DIGIT
MILLION RANGE
    * PURCHASE PRICE WILL BE PAID IN SHARES OF MEDIA AND GAMES
INVEST
AND CASH
    * CLOSING IS PLANNED FOR 30 SEPTEMBER 2020
    * ON AN ANNUAL BASIS, MANAGEMENT OF MGI EXPECTS ACQUISITION
TO
GENERATE ADDITIONAL REVENUES OF EUR 13-15 MILLION
    * ON AN ANNUAL BASIS, MANAGEMENT OF MGI EXPECTS ACQUISITION
TO
GENERATE EBITDA OF EUR 2-3 MILLION FOR MGI
    * MEDIA AND GAMES-CO,FREENET TODAY AGREED ON STRATEGIC
COOPERATION
IN MEDIA SECTOR, IN WHICH MGI WILL SUPPORT FREENET IN
ACQUISITION OF NEW CUSTOMERS
    * ANTONIUS FROMME, CCE OF FREENET AG, SHALL JOIN BOARD OF
DIRECTORS OF MGI

Source text for Eikon:  ID: 
Further company coverage:  M8G.DE 

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