Troika Media Group jumps on completion of deal to buy Converge Direct
22/03/2022 14:13
** Shares of consultancy firm TRKA.O jump 10% to $1.15
after announcing completion of its acquisition of media and
marketing company Converge Direct
** TRKA says deal set to add "significantly" to adj EPS.
Converge posted $300 mln in annualized revenue and $21 mln of
net income for year ending Dec 2021 urn:newsml:reuters.com:*:nGNE1BwlLZ
** Co estimates combined adjusted EBITDA over $27 mln for
2022; Tom Marianacci, founder and chief executive officer of
Converge will remain CEO of Converge entities urn:newsml:reuters.com:*:nGNE1BwlLZ
** Stock is among top volume movers, with 16.14 mln shares
traded as of 10:06 am ET vs 25-day moving avg of 497,484
(Reporting by Sruthi Shankar)
((sruthi.shankar@thomsonreuters.com;))
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