October 10, 2016 / 10:32 PM / 10 months ago

BRIEF-Ooh!Media to acquire Executive Channel International

Oct 11 (Reuters) - Ooh!Media Ltd :

* 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. Source text for Eikon: Further company coverage:

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