Brief: Evolving Systems to acquire Sixth Sense Media for $10 mln

Symbolic Logic

30/09/2015 21:10

Sept 30 (Reuters) - Evolving Systems Inc  EVOL.O : 
 * Acquires sixth sense media to accelerate move to Mobile marketing 
 * Says transaction expected to be accretive and augment Evolving systems' 
   revenue by approximately 20 pct in 2016 
 * Says Evolving Systems will pay $10.0 million for sixth sense media in two 
   payments 
 * Says transaction is being financed with the company's $10.0 million revolving 
   line of credit with east west bank 
 * Says thomas thekkethala, ssm's former CEO, joins Evolving Systems as a board 
   member and president 
 * Will pay about $9.75 million in cash at closing, second cash payment of 
   $250,000 on one-year anniversary of closing of the transaction 
 
* Source text for Eikon  ID:nMKW0WNc1a  
 
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