ComTel to purchase Deal Group for $5m

ComTel to purchase Deal Group for $5m

Online marketing company ComTel (ASX:CMO) has arranged to purchase Deal Group Media for around $5 million.

Deal Media is an online marketing company which generated an ebitda of $1.4 million in calendar 2009.

ComTel said it estimates that the equity purchase price will be between $4.5 million and $5 million once complete, and that the acquisition will be earnings accretive in year one.

The purchase is expected to be complete by October, so long as the necessary approvals can be granted, ComTel added.

ComTel has meanwhile been granted approval to shareholders to change its name to Digital Performance Group, following the recent sale of its mobile assets.

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Tags Mergers and acquisitionsdigital advertisingDigital Performance GroupComTelASX:CMODeal Group

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