In December 2016, Catena Media agreed with the sellers on the structure of the third earn-out, contemplating a prepayment and a final payment. It was then determined that up to 70% of the third earn-out could be made in Catena Media shares and 30% in cash.
The settlement is expected to have a positive impact on the timeline of reaching one of Catena Media´s financial targets where the goal is to operate within a net interest-bearing debt/adjusted EBITDA of 1.5-2.5x. With the acquisition settled, the aim is to operate within the range in 2020.
“We are pleased with this amended agreement and happy to successfully have taken over and integrated the U.S assets in order to continue our fast-pace journey of growth in the U.S. market”.
Per Hellberg, CEO
For further information, please contact:
Per Hellberg, CEO, Catena Media plc
Phone: +46 709 10 74 10, E-mail: firstname.lastname@example.org
Åsa Hillsten, Head of IR & Communications, Catena Media plc
Phone: +46 700 81 81 17, E-mail: email@example.com
About Catena Media
Catena Media provides companies with high-quality online lead generation. Through strong organic growth and strategic acquisitions, Catena Media has since 2012 established a leadingmarket position with approximately 390 employees in the US, Australia, Japan, Serbia, UK, Sweden, Italy and Malta (HQ). Total sales in 2018 reached EUR 105.0m. The company is listed on Nasdaq Stockholm Mid Cap. Further information is available at www.catenamedia.com.