CentralNic Group PLC set to double in size with KeyDrive acquisition
Source: Proactive Investors, July 16, 2018. https://www.proactiveinvestors.co.uk/companies/stocktube/9857/centralnic-group-plc-set-to-double-in-size-with-keydrive-acquisition-9857.html
Ben Crawford, chief executive of CentralNic Group PLC (LON:CNIC), tells Proactive’s Andrew Scott they’ve entered into a conditional agreement to acquire the entire share capital of KeyDrive.
The initial consideration is US$35.8 million, representing an enterprise value of US$44.5 million, plus a performance-based earn-out of up to US$10.5 million.
In 2017, KeyDrive generated revenues of US$58.26 million and adjusted underlying earnings (EBITDA) of US$5.87 million.
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