ASX-listed Limeade said it will be acquired by WebMD in an all-cash deal with an enterprise value of A$112 million ($75.21 million).
Shareholders of the U.S.-based software-as-a-service firm will receive A$0.425 per share from WebMD, a premium of 325% to Limeade’s last closing price.
After the acquisition is completed, Limeade will become a wholly-owned subsidiary of WebMD, the company said.
Limeade had cut 15% of its workforce in January under its restructuring plans and posted a 33% drop in its net profit after tax to $13.3 million for fiscal 2023.
The software provider said the transaction is expected to close in the third quarter of 2023.
Source: Reuters.com