Gannett will acquire search marketing and advertising company WordStream for $130 million in cash and up to an aggregate of $20 million earnout during the next 24 months based on achieving certain revenue targets, reports SearchMarketingDaily, which added that as Gannett “transforms into a digital publisher supported by search and analytics services, the “acquisition marks another critical milestone,” stated Robert Dickey, president and chief executive officer of Gannett.

“The transaction builds on Gannett’s existing data-driven digital marketing and advertising services, strengthened by the acquisitions of ReachLocal and SweetIQ.

“WordStream, in the first year following the acquisition, is forecast to contribute approximately $55 million in digital marketing services revenue and approximately $16 million of Adjusted EBITDA, according to the company.”

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