logo
Share SHARE
FONT-SIZE Plus   Neg

Mood Media To Buy DMX Holdings - Quick Facts

Mood Media Corp. (MM.L, MM.TO) has inked a deal to acquire DMX Holdings Inc. for $86.1 million in cash, including net debt repaid on closing, subject to certain adjustments for working capital. The equity value of the transaction would be around $53.8 million.

To satisfy the consideration payable in relation with the DMX purchase, Mood Media has reached placing agreements in Canada and the UK to complete a private placement of 31.8 million shares, to be issued at 231 pence per common share or C$3.60 per share, raising 73.5 million pounds or C$114.5 million before expenses. The additional net proceeds of the private placement would be used for general corporate purposes.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Alaska Air Group Inc., which completed its $2.6 billion acquisition of Virgin America last year, said that the combined company will adopt Alaska Air's name and logo. The Virgin America name will be retired, "likely sometime in 2019," the airline added. Apple Inc. has agreed to acquire Workflow, an iOS app for automating tasks, as well as its development team for an undisclosed sum. Workflow is a personal automation tool that enables the user to drag and drop combination of actions to create workflows for the iPhone, iPad and Apple Watch. After long negotiations to win over one of the largest and fastest growing smart phone markets, Apple has decided to assemble its 4-inch screen iPhone SE in India.
comments powered by Disqus
Follow RTT