IMedia Brands, Inc. acquired Portal & Advertising Business Segment from Synacor, Inc. for $37.3 million.
August 02, 2021
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iMedia Brands, Inc. (NasdaqCM:IMBI) acquired Portal & Advertising Business Segment from Synacor, Inc. on July 30, 2021. iMedia has renamed Synacor Portal and Advertising to Media Commerce Services. iMedia expects this transaction to be accretive and expects Media Commerce Services to generate at least $40 million in profitable revenue over the next twelve months. Lake Street Capital Markets, LLC acted as financial advisor to iMedia Brands for the transaction.
iMedia Brands, Inc. (NasdaqCM:IMBI) completed the acquisition of Portal & Advertising Business Segment from Synacor, Inc. for $37.3 million on July 30, 2021. The total consideration transferred on the date of the transaction consisted of $20 million cash, the issuance of a $10 million seller note and assumed liabilities with a fair value of $7.3 million.
Legacy IMBDS, Inc., formerly iMedia Brands, Inc., is a global media company. It owns and operates four television networks, which are ShopHQ, ShopBulldogTV, ShopHQHealth and 123tv. Its flagship network, ShopHQ is a multiplatform interactive television network offering a balanced assortment of name brands to consumers in an engaging and informative shopping environment via television, online and mobile. 123tv is the interactive media company disrupting Germanyâs television retailing marketplace with its Dutch auction style live and automated auctions that engages consumers with 123tvâs balanced merchandising mix of compelling products shipped directly to their homes. Bulldog is a menâs shopping and lifestyle television network offering menâs merchandise, entertainment and services. ShopHQHealth is a Health and Wellness focused network that offers an assortment of products and services to address the physical, spiritual, and mental health needs of its customers and their families.
LEGACY IMBDS, INC. 
