Oct 11 (Reuters) - Ooh!Media Ltd (OML) : Ooh! to acquire...

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.