Frontdoor Knocks Down Walls, Acquires 2-10 HBW For $585M Cash: Details
Frontdoor Knocks Down Walls, Acquires 2-10 HBW For $585M Cash: Details
Frontdoor, Inc. (NASDAQ:FTDR) shares are trading higher after the company inked a deal to acquire 2-10 Home Buyers Warranty (2-10 HBW) in an all-cash transaction for $585 million.
Frontdoor,Inc.(纳斯达克:FTDR)已达成一项协议,以5.85亿美元的全现交易收购2-10 Home Buyers Warranty(2-10 HBW),该公司的股票交易价格上涨。
2-10 HBW provides insurance-backed structural warranty protection plans for new homes, offering coverage for builders against structural failures.
2-10 HBW为新房提供有保险支持的结构保修计划,为建筑商提供结构故障的保障。
The deal is expected to close in the fourth quarter of 2024, subject to regulatory approval and other customary closing conditions.
该交易预计在2024年第四季度完成,须经监管机构批准及其他惯例完成条件。
The transaction brings expansion and diversification, as 2-10 boasts 292,000 customers and generated $198 million in revenue in 2023. Additionally, it will boost earnings, with 2-10 reporting $43 million in Adjusted EBITDA, equivalent to a 21.7% margin in 2023.
本次交易将带来扩张和多元化,2-10拥有29.2万客户,在2023年创造了1.98亿美元的营业收入。此外,它将增加收益,因为2-10在2023年报告了4300万美元的调整后息税折旧及摊销前利润,相当于21.7%的利润率。
The merged company's financial profile is projected to contribute positively to adjusted EBITDA and free cash flow generation in 2025, marking Frontdoor's first complete year of ownership.
合并后公司的财务状况预计将对2025年的调整后息税折旧及摊销前利润和自由现金流产生积极的贡献,这标志着Frontdoor拥有完整所有权的第一个完整年度。
Frontdoor, Inc. Chairman and CEO Bill Cobb said, "Additionally, we will be able to diversify and expand into the new home segment, which will open up cross-selling opportunities for home warranties and our on-demand services. In short, through this acquisition, we will gain a highly complementary business that aligns very well with our strategic growth priorities."
Frontdoor,Inc.董事长兼首席执行官比尔·科布(Bill Cobb)表示:“此外,我们将能够多元化和扩展到新房市场,这将为家庭保修和我们的按需服务开启交叉销售机会。简而言之,通过此次收购,我们将获得一个高度互补的业务,其与我们的战略增长优先事项非常契合。”
As of March-end, Frontdoor's cash balance stood at $378 million.
截至三月底,Frontdoor的现金余额为3.78亿美元。
Price Action: FTDR shares are up 3.61% at $36.78 at the last check Tuesday.
价格变动:在上周二的最后一次检查中,FTDR股价上涨3.61%至36.78美元。
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图片来自shutterstock。