Oct 11 (Reuters) - Ooh!Media Ltd (OML) :
- Ooh! to acquire executive channel network & capital raise
- Has entered into an agreement to acquire 100% of share capital of Executive Channel International Pty Ltd (ECN) for $68.5 million
- Acquisition is expected to be approximately 3% eps accretive in CY2017
- Acquisition and associated transaction costs and integration costs will be funded by a combination of debt and equity
- ECN is forecast to contribute over $8 million of EBITDA to ooh! in CY2017
- Forecast post transaction net debt / CY2016 pro forma EBITDA ratio of about 1.7x3
- Ooh! reconfirms cy2016 guidance provided on 23 august 2016
- Guidance excludes impact of acquisition that is expected to complete by end of october 2016
- To extent that actual results are materially different to underlying assumptions, quantum of synergies will vary
- Ooh! is undertaking a fully underwritten placement to raise $60 million to partially fund acquisition of ecn.
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