Frontdoor Knocks Down Walls, Acquires 2-10 HBW For $585M Cash: Details
Frontdoor Knocks Down Walls, Acquires 2-10 HBW For $585M Cash: Details
Frontdoor, Inc. (NASDAQ:FTDR) shares are trading higher after the company inked a deal to acquire 2-10 Home Buyers Warranty (2-10 HBW) in an all-cash transaction for $585 million.
Frontdoor，Inc.（納斯達克：FTDR）已達成一項協議，以5.85億美元的全現交易收購2-10 Home Buyers Warranty（2-10 HBW），該公司的股票交易價格上漲。
2-10 HBW provides insurance-backed structural warranty protection plans for new homes, offering coverage for builders against structural failures.
2-10 HBW爲新房提供有保險支持的結構保修計劃，爲建築商提供結構故障的保障。
The deal is expected to close in the fourth quarter of 2024, subject to regulatory approval and other customary closing conditions.
該交易預計在2024年第四季度完成，須經監管機構批准及其他慣例完成條件。
The transaction brings expansion and diversification, as 2-10 boasts 292,000 customers and generated $198 million in revenue in 2023. Additionally, it will boost earnings, with 2-10 reporting $43 million in Adjusted EBITDA, equivalent to a 21.7% margin in 2023.
本次交易將帶來擴張和多元化，2-10擁有29.2萬客戶，在2023年創造了1.98億美元的營業收入。此外，它將增加收益，因爲2-10在2023年報告了4300萬美元的調整後息稅折舊及攤銷前利潤，相當於21.7%的利潤率。
The merged company's financial profile is projected to contribute positively to adjusted EBITDA and free cash flow generation in 2025, marking Frontdoor's first complete year of ownership.
合併後公司的財務狀況預計將對2025年的調整後息稅折舊及攤銷前利潤和自由現金流產生積極的貢獻，這標誌着Frontdoor擁有完整所有權的第一個完整年度。
Frontdoor, Inc. Chairman and CEO Bill Cobb said, "Additionally, we will be able to diversify and expand into the new home segment, which will open up cross-selling opportunities for home warranties and our on-demand services. In short, through this acquisition, we will gain a highly complementary business that aligns very well with our strategic growth priorities."
Frontdoor，Inc.董事長兼首席執行官比爾·科布（Bill Cobb）表示：“此外，我們將能夠多元化和擴展到新房市場，這將爲家庭保修和我們的按需服務開啓交叉銷售機會。簡而言之，通過此次收購，我們將獲得一個高度互補的業務，其與我們的戰略增長優先事項非常契合。”
As of March-end, Frontdoor's cash balance stood at $378 million.
截至三月底，Frontdoor的現金餘額爲3.78億美元。
Price Action: FTDR shares are up 3.61% at $36.78 at the last check Tuesday.
價格變動：在上週二的最後一次檢查中，FTDR股價上漲3.61％至36.78美元。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
免責聲明：本文部分內容使用了Benzinga Neuro的幫助。此內容是通過AI工具部分製作的，並由Benzinga編輯進行了審查和發佈。
Photo via Shutterstock
圖片來自shutterstock。
譯文內容由第三人軟體翻譯。