Subsequent Events

6 Months Ended

Jun. 30, 2016

13.

Subsequent Events

On July 14, 2016, the Company’s MediaMiser subsidiary acquired the Agility business from PR Newswire. Agility is a leading global media contact database and media monitoring platform that helps customers target key influencers, amplify content and measure impact. The consideration given after working capital adjustments consisted of $4.3 million in cash, and is subject to further post-closing adjustment based on working capital as of the closing date. The Company funded the purchase price from its available cash on hand. MediaMiser acquired Agility to foster growth in North America and Europe by bolstering MediaMiser's media intelligence solutions and media databases, improving its media outreach capabilities, and delivering stronger, more data-powered media intelligence to clients. With the acquisition of Agility, MediaMiser is now one of only a handful of companies able to offer a global media contact dataset with integrated workflows for distribution, monitoring and measurement. The acquisition brought to MediaMiser more than 1,500 Agility customers and approximately 50 employees in the US and the UK. Agility had approximately $5 million in revenues in 2015.

For additional information see the Company's Report on Form 8-K dated July 14, 2016. The information in the financial statements of this Report on Form 10-Q is for the quarterly period ended June 30, 2016, and does not reflect any aspect of the Agility transaction.