QMS Media completes acquisition of TLA

QMS Media (ASX:QMS) has completed the acquisition of TLA Worldwide Australia.

The company is looking to complete the purchase of Stride Sports Management Holdings next week.

The new expanded entity will see current TLA CEO, Craig Kelly become CEO of QMS Sport Australia, supported by QMS’ existing senior executive team across sports media.

On a 12 month pro-forma basis the TLA and Stride acquisitions are together expected to contribute CY2019 EBITDA of approximately $6.0 million, pre synergies.

Synergies of $1-2 million are expected to be realised before the end of CY2020.

Shares in QMS Media (ASX:QMS) closed 2.25 per cent lower at $0.87 yesterday.
 
Copyright 2019 – Finance News Network

Source: Finance News Network