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July 29, 2014
08:38 EDTINODInnodata acquires MediaMiser for $5.38M
Innodata announced it has acquired MediaMiser, an Ottawa, Canada-based provider of automated, real-time traditional and social media monitoring services. MediaMiser uses proprietary technology to monitor, aggregate, analyze and share content from more than 200,000 sources across social, traditional and digital media to provide detailed analysis reports and daily briefings to its customers, which include several Fortune 500 companies and Canadian government institutions as well as small- and medium-sized businesses. Innodata completed the acquisition for a base purchase price of $5.38M, consisting of an upfront cash payment of $4.10M and deferred payments of $0.58M in July 2015 and $0.7M in July 2016. In addition, MediaMiser has the opportunity to receive an earn-out of up to $4.6M in May 2017 based on the extent to which it achieves certain growth-related performance milestones. Innodata has the option to pay up to 100% of the deferred amount and up to 70% of the earn-out in Innodata common shares. The company was acquired on a debt-free basis. Innodata funded the acquisition from its overseas cash balances.
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