Brief: Wavestone Acquires US-Based Consulting Firm WGroup

Wavestone SA

19/07/2019 06:08

July 19 (Reuters) - WAVESTONE SA  WAVE.PA :
    * ACQUISITION OF US-BASED CONSULTING FIRM WGROUP
    * TRANSACTION TAKES FORM OF A 100% ACQUISITION OF WGROUP BY
WAVESTONE
    * PURCHASE PRICE IS $22.0M IN ENTERPRISE VALUE, PLUS AN
ADDITIONAL
CONSIDERATION OF UP TO $8.5M CONDITIONED BY FIRM'S PERFORMANCE
IN 2019 AND 2020.
    * AFTER MERGER, WAVESTONE'S BUSINESS IN US WILL REPRESENT AN
ANNUAL REVENUE OF CIRCA $35M.
    * ACQUISITION HAS BEEN PAID IN CASH AND FUNDED THROUGH AN
EXISTING
CREDIT LINE NEGOTIATED WITH WAVESTONE'S BANKS.

Source text for Eikon:  ID:nACT59456 
Further company coverage:  WAVE.PA 

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