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Best Buy acquires Greatcall

Aug. 15, 2018 4:15 PM ETBest Buy Co., Inc. (BBY) StockBy: Clark Schultz, SA News Editor2 Comments
  • Best Buy (NYSE:BBY) announces that it acquired GreatCall for $800M in cash.
  • GreatCall is a provider of connected health and personal emergency response services to the aging population, with more than 900K paying subscribers.
  • The company says the GreatCall acquisition is a manifestation of the Best Buy 2020 strategy to enrich lives through technology by addressing key human needs. The deal is also seen adding to Best Buy's growing business selling health- and wellness-related products.
  • The transaction is expected to close by the end of FQ3. The company expects the impact of the acquisition on EPS to be neutral in FY19 and FY20 and accretive by FY21.
  • More from BBY: "The acquisition is consistent with Best Buy’s long-term capital allocation strategy to first fund operations and investments in growth, including acquisitions, and then to return excess free cash flow over time to shareholders through dividends and share repurchases, while maintaining investment-grade credit metrics. The acquisition is not expected to impact Best Buy’s dividend strategy or its previously communicated plan to spend $1.5 billion on share repurchases during FY19."
  • Source: Press Release

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