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By Michael Dabaie
IMedia Brands Inc. on Wednesday announced the acquisition of 123tv for an enterprise value of approximately $ 95 million.
The deal includes earning potential of an additional $ 50 million based on target revenue achievement, interactive media company iMedia said.
123tv is an interactive media company focused on the television retail market. 123tv reaches consumers through its television network available in more than 40 million German and Austrian television households and its online, mobile and over-the-top digital platforms.
IMedia expects to complete the transaction in the fourth quarter of 2021.
GCA Altium acted as financial advisor to ARCUS Capital AG and the other selling shareholders.
IMedia has announced that it will offer $ 75 million of senior notes due 2026 as part of a public offering subscribed to to fund the transaction.
Write to Michael Dabaie at [email protected]
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