Proposal for WME takeover by MLB
It has been proposed that WME Group be acquired by Melbourne IT (MLB) for approximately $39 million.
The proposed acquisition is expected to have a positive impact of approximately $6.5–$7.5 million (before synergies) on FY17 underlying EBITDA.
“The Melbourne IT of today is almost unrecognisable from the Melbourne IT of three years ago,” said Martin Mercer, CEO of MLB.
“This acquisition will build on the success we have experienced to date in providing managed marketing solutions for small businesses.”
WME Group has offices in Melbourne and Auckland, New Zealand. It has received numerous awards for growth and innovation, including being voted one of the top 100 places to work in Australia.
Key management of WME Group will remain with the business.
The proposed acquisition follows previous successful acquisitions in Melbourne IT’s Enterprise Services division, namely the acquisition of Outware Systems in February 2017 for $57.84 million and the acquisition of Infoready in March 2016 for $15.4 million.
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