(RTTNews.com) - LendingTree Inc. ( TREE ) said that it agreed to acquire Value Holding Inc. for the total consideration of $105 million in cash. LendingTree expects the acquisition to be immediately accretive to 2019 adjusted earnings per share.
The acquisition is expected to close in the first quarter of 2019 subject to customary closing conditions. LendingTree intends to fund the acquisition through cash on hand and by drawing on its existing credit agreement.
Value Holding, the parent company of ValuePenguin.com, is a personal finance website that offers consumers objective analysis on a variety of financial topics from insurance to credit cards.
For the nine months ended September 30, 2018, ValuePenguin generated approximately $12.5 million in revenue and $9 million in adjusted EBITDA.
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