Shinez.io News
2 articles
Growth-Positive
Team Internet Group PLC Announces Completion of Acquisition of Shinez I.O. Ltd
Team Internet Group plc has completed its acquisition of Shinez I.O Ltd for an enterprise value of USD 43.2 million. The deal includes an initial consideration of USD 38.9 million and USD 4.3 million retained in escrow. An additional USD 12.3 million may become due if Shinez meets financial targets over the next two years. Shinez reported USD 111 million in gross revenue, USD 16.2 million in net revenue, and USD 10.4 million in Adjusted EBITDA for the year ending 31 December 2023. The acquisition is expected to significantly enhance Team Internets earnings per share.
Acquisition
growth-positive
Team Internet Group swoops for online advertising specialist in $41m deal
Team Internet Group PLC is acquiring online advertising specialist Shinez IO for an enterprise value of $41.8 million. The acquisition will diversify Team Internets portfolio by adding Shinezs expertise in creating and promoting engaging content across various platforms. The deal will be paid using cash resources and the companys credit facility, with an additional $12.3 million contingent on performance. Shinez, known for its forty popular portals and its story-telling platform, made gross revenues of $111 million and adjusted EBITDA of $10.4 million in the 12 months ended December 31.
Acquisition
