Harte Hanks acquires InsideOut Solutions for $7.5M; targets 3-4x EBITDA valuation

HARTE HANKS INC

Purchase price $7.5M: $5.75M cash at closing, $1M escrow, $0.75M in HHS common stock.
InsideOut trailing 12-month revenue of $11.5M and Adjusted EBITDA of $1.5M as of Nov 30, 2022.
CEO says acquisition is immediately accretive; cost synergies expected to drive 3-4x EBITDA valuation.
Adds 136 employees and a 7,500 sq ft St. Petersburg, FL facility; InsideOut CEO enters 2-year consulting agreement.
Expands demand generation and inside sales capabilities within marketing services and customer care segments.

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