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· Initially adds four high quality fully digital events to accelerate evolution of omnichannel strategy · Earnings enhancing in first full year of ownership and immediately brand enhancing
Hyve Group plc today announces the acquisition of Retail Meetup, LLC ( Retail Meetup ) for an initial consideration of £18.8m 1, with an earn out capped at £9.0m 1 based on the EBITDA of the two events scheduled for FY21, payable in Q4 FY21. Retail Meetup is a first of its kind digital event format for the ecommerce market that enables attendees to network and trade at scale. The acquisition will be funded through existing debt facilities and cash reserves. ....