Brief: Speed Commerce buys e-Commerce services provider Fifth Gear

Speed Commerce

24/11/2014 13:30

Nov 24 (Reuters) - Speed Commerce Inc  SPDC.O : 
 * Acquires e-Commerce services provider Fifth Gear 
 * Says deal for $55 million 
 * Says company expects revenues for its fiscal year ending March 31, 2016 
   ranging between $180 million to $220 million 
 * Says anticipates that the acquisition will become accretive to earnings 
   during fiscal 2016 
 * Says financed deal, refinanced existing term loan facility with a new $100 
   million credit facility led by garrison capital 
 * Says company anticipates adjusted EBITDA margins for fiscal 2016 in the range 
   of 10%-13% 
 
 * Source text for Eikon  ID:nGNXVCDZDa  
 * Further company coverage  SPDC.O   
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