June 10, 2016 / 8:30 AM / 2 years ago

Axel Springer buys U.S. eMarketer for $242 million

FRANKFURT (Reuters) - Axel Springer said on Friday it had agreed to buy 93 percent of U.S. digital market data analyst eMarketer for about $242 million, continuing its move into digital media.

The logo of the German publisher Axel Springer is seen outside its headquarters in Berlin August 7, 2013. REUTERS/Thomas Peter

The rest of the shares will remain with the company’s founders and management.

The company had earnings before interest, tax, depreciation and amortisation (EBITDA) of $13.5 million last year on $45.5 million in sales.

Reporting by Harro ten Wolde; Editing by Tina Bellon

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