May 10, 2018 / 11:02 AM / 16 days ago

BRIEF-Gannett To Acquire Digital Marketing Software Company Wordstream

May 10 (Reuters) - Gannett Co Inc:

* GANNETT TO ACQUIRE DIGITAL MARKETING SOFTWARE COMPANY WORDSTREAM, INC.

* GANNETT CO INC - PURCHASE PRICE IS $130 MILLION IN CASH

* GANNETT CO INC - ANTICIPATES TRANSACTION WILL BE ACCRETIVE IN FIRST FULL YEAR OF OPERATIONS AND FUNDED FROM BORROWINGS UNDER COMPANY’S REVOLVER

* GANNETT CO INC - IN FIRST YEAR, WORDSTREAM IS FORECASTED TO CONTRIBUTE APPROXIMATELY $55 MILLION IN DIGITAL MARKETING SERVICES REVENUE

* GANNETT CO INC - IN FIRST YEAR, WORDSTREAM IS FORECASTED TO CONTRIBUTE APPROXIMATELY $16 MILLION OF ADJUSTED EBITDA

* GANNETT CO INC - ALONG WITH PURCHASE PRICE, AGGREGATE $20 MILLION EARNOUT ALSO PAYABLE IN 2019 AND 2020 BASED ON ACHIEVING CERTAIN REVENUE TARGETS Source text for Eikon: Further company coverage:

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