ACCESS Newswire acquired PrecisionIR Group, Inc. for approximately $3.45 million in cash, a transaction completed in August 2013, structured as all cash (partly funded by an $2.5M 8% convertible note from Red Oak Partners). The deal was a Merger.
PrecisionIR Group, Inc. operates in Investor relations / corporate communications, is based in Richmond, Virginia, USA (global operations). Issuer Direct acquired all of the common stock of Richmond, Virginia-based PrecisionIR Group, Inc., a global provider of online investor relations and web-based corporate communications solutions, including its Annual Report Service (ARS) and Company Spotlight offerings. Issuer Direct expected the deal to more than double its revenue and client count and to be EBITDA-accretive within the first 12 months.
Significantly increase the customer base and add complementary IR/communications solutions, positioning the combined company as a global leader in disclosure management.
Expected revenue to more than double and to be EBITDA-accretive within 12 months.
This strategic acquisition significantly increases our customer base and adds new complementary solutions to our already robust suite of offerings,Brian R. Balbirnie, Chief Executive Officer, Issuer Direct
Advisory firms were not disclosed for this transaction.