Knology (KNOL) Acquires E Solutions in $13.8M Deal
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Knology, Inc. (Nasdaq: KNOL) has acquired E Solutions Corporation for $13.8 million in cash. E Solutions is a premiere provider of colocation and data center services, operating two state-of-the-art SAS 70 Type II certified data centers in Tampa, FL.
From a financial perspective, the transaction is immediately accretive to Knology on a levered free cash flow per share basis. Knology will be able to fully amortize the purchase price, resulting in tax benefits with an estimated net present value of $2.8 million. Including the tax benefits, the transaction is accretive on an EBITDA multiple valuation. Knology funded the acquisition with cash on hand.
Stephens Inc. served as financial advisor to Knology and RBC Capital Markets, LLC acted as financial advisor to E Solutions in this transaction.
From a financial perspective, the transaction is immediately accretive to Knology on a levered free cash flow per share basis. Knology will be able to fully amortize the purchase price, resulting in tax benefits with an estimated net present value of $2.8 million. Including the tax benefits, the transaction is accretive on an EBITDA multiple valuation. Knology funded the acquisition with cash on hand.
Stephens Inc. served as financial advisor to Knology and RBC Capital Markets, LLC acted as financial advisor to E Solutions in this transaction.
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