RhythmOne to acquire YuMe

07:55 05/09/2017
StockMarketWire.com - RhythmOne entered a definitive agreement with YuMe, a publicly-traded company listed on the New York Stock Exchange, to acquire the company for approximately $185m based on current exchange rates for cash and shares.

The approximately $185m total consideration is based on 34.7 million shares in YuMe in issue as at 31 August 2017 (being the latest practicable date prior to the publication of this announcement).

The acquisition is expected to close in the first calendar quarter of 2018.

Strategically, the company believes the acquisition will result in a combined entity with a complete end-to-end platform in one of the fastest growing segments of the industry, with the resources, relationships and talent to drive earnings growth both organically and through other potential acquisitions.

The company will hold a general meeting on 25 September 2017 to: (i) approve a consolidation of its share capital; and (ii) grant the directors of the company authority to issue shares as part consideration for the acquisition.

A circular (containing a notice convening the General Meeting) is expected to be posted to the shareholders of the company on 7 September 2017.



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