Originally published at www.seclive.com
Filing in Focus: Global Eagle Entertainment 8-K, May 14, 2013
Global Eagle Entertainment (NASDAQ:EAGL) has completed the acquisition of Post Modern Group in a $24M cash and stock transaction initiated earlier this year. Global Eagle is a leader in the airline in-flight entertainment industry, and this acquisition of PMG, a digital media production and post-production company, will add to the depth of services the company provides. For fiscal 2013, PMG is expected to contribute over $4.5M in net income with revenues of $35M. Global Eagle CFO Dave Davis remarked that the transaction is a strategic move, strengthening its already-offered services and enabling it to venture into new markets.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.