2 Min Read
July 10 (Reuters) - Cotiviti Holdings Inc:
* Cotiviti announces agreement to purchase Rowdmap, Inc.
* Cotiviti Holdings Inc - entered into a definitive agreement to acquire Rowdmap, Inc.
* Pursuant to definitive agreement, Cotiviti will pay $70 million in cash, subject to certain adjustments
* Cotiviti Holdings Inc - intends to issue an aggregate of approximately 800,000 shares of restricted common stock to certain employees of Rowdmap
* Transaction is not subject to a financing condition
* Cotiviti Holdings Inc - on a non-gaap adjusted net income basis, acquisition is expected to be neutral to full year 2017 results and accretive in 2018.
* Cotiviti Holdings - due to equity incentives, impact of purchase accounting, on a gaap net income basis deal is not expected to be accretive in 2017 or 2018
* Cotiviti intends to fund entire purchase price of the transaction with available liquidity
* Cotiviti Holdings Inc - on a non-gaap adjusted net income basis, acquisition is expected to be neutral to full year 2017 results and accretive in 2018 Source text for Eikon: Further company coverage: