iEnergizer Limited Acquisition of Aptara, Inc.
iEnergizer Limited, a leading international provider of third-party integrated business process solutions, is pleased to announce that, as of yesterday, it has unconditionally completed the acquisition of Aptara, Inc. ("Aptara"). The acquisition has been structured via a merger of iEnergizer-Aptara Merger Sub, Inc. (a USA subsidiary of iEnergizer recently incorporated for the purpose of the acquisition) with and into Aptara, through which Aptara has become a wholly-owned subsidiary of iEnergizer.
Aptara is a market leader in end-to-end outsourced multi-channel content production and digital media solutions. Aptara's service offering includes a comprehensive suite of content authoring, art and design, development, editorial, digitization, multi-channel distribution and technology services. As one of the largest companies providing end-to-end digital content production solutions, Aptara works with more than 300 corporate customers across multiple industries, including: financial, education, legal, automotive, scientific/technical/medical (STM), trade/consumer and life sciences. Aptara is headquartered in the USA and provides services, through a total employee base of approximately 5,000, from various locations at Delhi, Pune, Trivandrum and Dehradun in India, and at Falls Church, Virginia and Boston, Massachusetts in the USA.
The acquisition is strategically significant for iEnergizer as it extends iEnergizer's capabilities in the content production and digital media solutions markets, while enlarging its customer base. Additionally, iEnergizer is expected to further benefit from cross-selling opportunities and economies of scale of the combined operations.
For the year ended 31 December 2010, Aptara had audited consolidated revenues of $65.9m, EBITDA of $12.6m, operating profit of $10.1m and profit before tax of $0.6m, after accounting for $10.7m of interest expense and other income and expenses. As at 31 December 2010, Aptara had audited current assets of $23.6m, total assets of $40.4m, current liabilities of $14.7m and total liabilities of $83.5m.
For the year ended 31 December 2011, Aptara management accounts (which are unaudited estimates which may require additional year-end adjustments) show consolidated revenues of $81.4m, EBITDA of $14.9m (with an adjusted EBITDA of $17.0m after incorporating "add-backs" of certain non-recurring items), operating profit of $13.0m and loss before tax of $0.2m, after accounting for $13.1m of interest and unrealized foreign exchange loss.