Brief: Tucows’ Ting Fiber To Expand Colorado Presence With Acquisition Of Cedar Holdings Group

Tucows

01/11/2019 12:06

Nov 1 (Reuters) - Tucows Inc  TC.TO :
    * TUCOWS’ TING FIBER TO EXPAND COLORADO PRESENCE WITH
ACQUISITION
OF CEDAR HOLDINGS GROUP
    * TUCOWS INC - CO WILL PAY $9 MILLION IN CASH AND $2 MILLION
IN
RESTRICTED STOCK UPON CLOSING
    * TUCOWS INC - CASH COMPONENT OF PURCHASE PRICE WILL BE
FUNDED
THROUGH TUCOWS' EXISTING CREDIT FACILITY
    * TUCOWS INC - SIGNED A DEFINITIVE AGREEMENT TO ACQUIRE
CEDAR
HOLDINGS GROUP THROUGH TUCOWS SUBSIDIARY, TING FIBER, INC
    * TUCOWS - ACQUISITION OF CEDAR ADDS ABOUT 1,400 CUSTOMERS
AND
6,400 ADDRESSES PASSED BY FIBER TO TING INTERNET FOOTPRINT
    * TUCOWS INC -  EXPECTS TO PROVIDE ADDITIONAL INFORMATION ON
ONGOING CONTRIBUTION, EXPECTED SYNERGIES AS PART OF ITS 2020
GUIDANCE UPDATE IN FEB, 2020
    * TUCOW - ADDITIONAL CONTINGENT PAYMENTS OF UP TO $4 MILLION
THAT
ARE SUBJECT TO MEETING SPECIFIC BENCHMARKS, WOULD BE PAID AT 24
AND 36 MONTHS FROM CLOSING
    * TUCOWS INC - REVENUE AND ADJUSTED EBITDA CONTRIBUTION FROM
THIS
TRANSACTION WILL BE IMMATERIAL TO TUCOWS' 2019 RESULTS

Source text for Eikon:  ID:nGNX8hHxt0 
Further company coverage:  TC.TO 

 ((Reuters.Briefs@thomsonreuters.com;))