Leo Holdings Corp. and Digital Media Solutions LLC (“DMS”) Announce Reaffirmation of Financial Outlook
Summary
“ Our unique combination of innovative brand direct solutions and leading marketplace offerings are contributing to strong business performance in the second fiscal quarter, including outsized growth in the insurance vertical. As a result, brands are assured to make money on each dollar spent on the DMS platform and are able to achieve a level of predictability and scale that traditional ad campaigns cannot match. DMS primarily works with brands with large-scale marketing needs to engage and acquire customers, serving a variety of verticals such as Insurance, Consumer Finance, Education, Health & Wellness, Home Services, eCommerce, Retail, Direct-to-Consumer (DTC) Subscription and more. Our confidence in our runway for growth is further bolstered by recent conversations with customers related to our current marketing solutions stack along with our ability to further execute with a proven M&A playbook in a sector that is ripe for consolidation.” Based on these strong trends, DMS and Leo are reaffirming DMS’ financial outlook as follows: The total enterprise value of the Business Combination of $757 million represents a multiple of 10.1x fiscal year 2021 expected adjusted EBITDA. DMS deploys a robust database of consumer intelligence and leverages massive proprietary media distribution to provide customer acquisition campaigns that grow businesses.
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