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FREELANCER LIMITED — M&A Activity 2015
Oct 14, 2015
64924_rns_2015-10-14_48dab578-732d-4e2f-abf2-6437b3f8c4aa.pdf
M&A Activity
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ASX Announcement | 15 October 2015 Freelancer announces receipt of final regulatory approvals for the acquisition of Escrow.com
Thursday, 15[th] October 2015 - Freelancer Limited (ASX:FLN) (Freelancer or the Company), the world’s largest freelancing and crowdsourcing marketplace by total number of users and posted projects, at 10.06am today received confirmation of final regulatory approvals for the acquisition of Escrow.com from all of the required regulators in the United States.
Headquartered in California, Escrow.com is the leading provider of secure online payments and online transaction management for consumers and businesses on the Internet, with FY14 gross payment volume of US$265 million, net revenue of US$5 million, EBITDA of US$1.2 million and over US$2.2 billion in transaction volume to date.
Freelancer has commenced the process for financial close with the seller, and expects this to occur imminently.
ENDS
For more information, contact:
Christopher Koch Deputy Chief Financial Officer & Investor Relations
Tel: +61 409 788 637 Email: [email protected]
http://www.freelancer.com
About Freelancer
Eight-time Webby award-winning Freelancer.com is the world’s largest freelancing and crowdsourcing marketplace by total number of users and projects posted. 16 million registered users have posted 8 million projects and contests to date in over 850 areas as diverse as website development, logo design, marketing, copywriting, astrophysics, aerospace engineering and manufacturing. Freelancer Limited is listed on the Australian Securities Exchange under the ticker ASX:FLN.
FREELANCER LIMITED | ACN 141 959 042 | Registered Office: Level 20, 680 George Street, Sydney NSW 2000 Australia T +61 2 8599 2700 | E [email protected] | www.freelancer.com