March 6, 2017 / 9:33 PM / 6 months ago

BRIEF-Meetme to acquire if(we)

March 6 (Reuters) - Meetme Inc:

* Meetme to acquire if(we)

* Meetme Inc -deal expected to contribute at least $9.0 million in adjusted ebitda

* Deal for $60.0 million in cash

* Meetme Inc - deal accretive to earnings in first 12 months after closing

* Company expects to fund acquisition from Meetme cash on hand and cash from operations

* Meetme Inc - expects that tagged and hi5 will remain separate brands and standalone mobile applications following closing of acquisition

* Meetme Inc - company has extended offers of employment to approximately 87 of company's 100 employees

* Meetme Inc - expects to also fund acquisition from other sources of financing available , including $30.0 million bank loan from J.P. Morgan Chase Bank

* Meetme Inc - Skout's co-founder and CTO Niklas Lindstrom has joined Meetme as chief technology officer

* Meetme Inc - Lindstrom replaces Meetme's former chief technology officer, Jonah Harris, who has agreed to remain with company

* Meetme Inc - Meetme's former CTO Rich Friedman has rejoined company as svp engineering Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below