Live Ventures Acquires Precision Metal Works For $28M
Portfolio Pulse from Akanksha Bakshi
Live Ventures Inc (NASDAQ:LIVE) has acquired Precision Metal Works for $28 million, comprising $25 million cash and up to $3 million in an earn-out. The acquisition is expected to be immediately accretive to earnings and add $75 million to the annual revenue stream. Live Ventures will retain PMW's existing management team and all its employees.
July 24, 2023 | 2:43 pm
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POSITIVE IMPACT
Live Ventures' acquisition of Precision Metal Works is expected to be immediately accretive to earnings and add $75 million to the annual revenue stream. The company's shares traded higher by 0.58% at $25.97 on the last check.
The acquisition of Precision Metal Works by Live Ventures is a significant move that is expected to immediately boost the company's earnings and add a substantial amount to its annual revenue. This positive news is likely to have a positive impact on the company's stock price in the short term, as reflected in the 0.58% increase in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100