Gannett (GCI) Declares $0.16 Quarterly Dividend; Approves $100M Buyback
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Gannett (GCI) Reports Acquisition of WordStream, Inc. for $130M
May 10, 2018 6:56 AM EDTGannett Co., Inc. (NYSE: GCI), announced today that it entered into an agreement to acquire WordStream, Inc. (WordStream), a provider of cloud-based software-as-a-service (SaaS) solutions for local and regional businesses and agencies to optimize their digital marketing services campaigns. The purchase price is $130 million in cash, net of cash acquired, plus up to an aggregate $20 million earnout payable in 2019 and 2020 based on achieving certain revenue targets. The transaction builds upon Gannetts existing data-driven digital marketing services, ReachLocal and SweetIQ.
This acquisition marks another critical milestone in Gannetts digital transformation, enhancing our ability to... More
