B. Riley Financial, a financial and business advisory services provider, has completed the acquisition of United Online, an Internet access and services provider for $11.00 per share in a transaction valued at approximately $170 million.
As part of the transaction, Robert J. (Rusty) Taragan will be rejoining United Online as its CEO. Rusty previously spent 15 years at United Online, and its predecessor company NetZero, most recently as the President of its Communications Segment.
Bryant Riley, Chairman and CEO of B. Riley Financial commented on the deal:
The acquisition of United Online is consistent with our plan of making financially prudent acquisitions that provide outsized risk-adjusted returns. We look to benefit from the experience of United Online’s seasoned employees and the company’s ability to achieve predictable recurring revenue and EBITDA, while operating the business to maximize free cash flow for distribution to our shareholders.
By leveraging B. Riley Financial’s broad platform of services and capabilities, we believe we are ideally positioned to capitalize on additional investment opportunities like United Online.