Brief: Media And Games Invest To Close Smaato Acquisition On September 1, 2021

Mgi Media and Games Invest Se

27/08/2021 09:12

Aug 27 (Reuters) - MEDIA AND GAMES INVEST SE  M8G.DE :
    * SMAATO ACQUISITION ENVISAGED TO CLOSE ON SEPTEMBER 1, 2021
    * BOARD DECIDES TO FOCUS ON SCALABLE MEDIA SAAS BUSINESS AND
CLOSE
THE LOW-MARGIN INFLUENCER- AND PERFORMANCE BUSINESS
    * FINANCIAL GUIDANCE (INCLUDING SMAATO) OF EUR 234-254 MLN
REVENUES AND EUR 65-70 MLN ADJUSTED. EBITDA REMAINS UNCHANGED
FOR FY 2021
    * PROFIT-MARGINS OF MEDIA SEGMENT ARE EXPECTED TO ACCELERATE
IN
FUTURE
    * DISCONTINUATION OF GERMAN INFLUENCER- AND
PERFORMANCE-MARKETING
UNIT WILL AFFECT AROUND 10% OF WORLDWIDE MGI EMPLOYEES WHICH
WILL BE MADE REDUNDANT AS A CONSEQUENCE OF DISCONTINUATION

Source text for Eikon:  ID:nEQ1Nt3bTa 
Further company coverage:  M8G.DE 

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