United Online Completes Acquisition Of FTD For $754M: FTD Growth Slow In Latest Quarter
One of the more unexpected M&A deals closed today, as United Online (NSDQ: UNTD) completed the acquisition of floral company FTD for $754 million in cash and stock. The deal, which gives FTD shareholders 15 percent of the combined company, was originally valued around $800 million. The company says the combined company has trailing twelve month revenue of $1.14 billion, and op income of $169.1 million. Release.
The deal’s closing comes one day after FTD reported Q4 earnings: Revenue was up 3 percent to $174.9 million. Excluding a gain in the last quarter, net income was basically flat, $12.6 million vs. $12.5 million. Release.
United Online, meanwhile, continues to ride the surprising growth of its Classmates.com unit. Although the company failed to spin it off, company recently announced that the social division would be moving from Renton, WA to fresh digs on Seattle’s waterfront.
Related StoriesPosted In: Money, Earnings, M&A & Venture Capital, Mergers & Acquisitions, ftd, united online
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Comments (1)
Oct 3, 2008 2:35 PM
what does this mean to us florist.????? how will the company be run ?
how will this aquisiontion benifit the florist ?
who is this company with no name just intials ?? will the same people stay on that are already employed at ftd ? will the chariman remaine the same, or will someone else from the company that bought ftd be replaced. Will the fees change ? will any thing be the same ? How is this acquisition effect us the local florist ??