May 1, 2017 / 8:46 AM / 4 months ago

BRIEF-Melbourne IT says to acquire WME Group

May 1 (Reuters) - Melbourne IT Ltd:

* Melbourne IT to acquire WME Group

* Acquisition of WME Group is expected to generate EPS accretion of 12% to 18%

* Expected positive impact of approximately $6.5 million to $7.5 million (before synergies) on FY17 underlying EBITDA

* Underwritten rights issue raising $30.7m and $9m of debt to fund acquisition

* Proposed acquisition of 100% of WME Group for approximately $39 million

* WME Group expected to accelerate MLB's growth in average revenue per user (ARPU) through enhanced cross sell and customer retention

* Deal to be funded by debt of about $9 million and a fully underwritten $30.7 million rights offer of 1 share for every existing 7 shares at issue price of $2.10 Source text for Eikon: Further company coverage:

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