Brief: Inside Secure To Acquire Verimatrix

Verimatrix SA

05/12/2018 16:58

Dec 5 (Reuters) - Inside Secure SA  INSD.PA :
    * INSIDE SECURE ENTERS INTO AN EXCLUSIVE AGREEMENT TO
ACQUIRE
VERIMATRIX, INC. CREATING A SOFTWARE-BASED SECURITY POWERHOUSE
    * SAYS ALL-CASH TRANSACTION CONSIDERATION OF APPROXIMATELY
$143
MILLION
    * SAYS DEAL EXPECTED TO BE ACCRETIVE TO CO'S EARNINGS FROM
2019
PRIOR TO FULL IMPLEMENTATION OF ANTICIPATED SYNERGIES
    * SAYS 2021 OBJECTIVE TO DRIVE PROFITABLE GROWTH, REVENUE OF
$150
MILLION & EBITDA MARGIN OF 25 PERCENT
    * SAYS TRANSACTION FULLY FUNDED THROUGH COMBINATION OF
AVAILABLE
CASH, A PRIVATE DEBT PROVIDED BY APERA CAPITAL, AND EQUITY
    * SAYS CONFIRMS ITS BUSINESS OUTLOOK FOR 2018
    * SAYS ADJUSTED OPERATING EXPENSES IN 2018 EXPECTED TO BE IN
LOWER
END OF PREVIOUSLY COMMUNICATED $36 MILLION TO $37 MILLION RANGE
    * SAYS CONFIRMS IT WILL GENERATE POSITIVE EBITDA IN 2018
    * SAYS ANTICIPATES $10 MILLION COST SYNERGIES PER YEAR FROM
DEAL
ON A RUN RATE BASIS, ONCE FULLY IMPLEMENTED

Source text for Eikon:  ID:nBw7HsB4la 
Further company coverage:  INSD.PA 

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