February 23, 2017 / 1:12 PM / 9 months ago

BRIEF-Wix acquires DeviantArt

Feb 23 (Reuters) - Wix.Com Ltd

* Wix acquires DeviantArt, pairing Wix capabilities with global creative community

* Wix.Com Ltd- increasing its revenue outlook by approximately $8 million to $417 - $419 million for 2017 as result of deal

* wix.com ltd- increasing its collections outlook by approximately $9 million to $461 - $467 million for 2017 as result of deal

* Wix.com Ltd- decrease fy17 free cash flow outlook by approximately $8 million to $63 - $64 million

* wix.com ltd- Angelo Sotira, co-founder and CEO of DeviantArt, will join Wix management team as part of deal

* Wix.Com Ltd- all employees of DeviantArt will join Wix

* Wix.Com Ltd- acquired 100 percent DeviantArt’s capital stock in exchange for about $36 million in cash, including approximately $3 million of assumed liabilities Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
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