TMT Imvestments PLC Acquisition of Todoroo, Inc.
TMT Investments PLC, which invests in high-growth internet-based companies across a variety of sectors, is pleased to announce that its portfolio company Todoroo, Inc. ("Astrid") has been acquired by Yahoo! Inc.
The terms of the transaction documents preclude TMT from disclosing the terms of the transaction until 2 July 2013. The consideration receivable by TMT for the transaction represents an increase from the latest book value of TMT's investment in Astrid.
The transaction was completed on 1 May 2013.
TMT's original investment in Astrid was made on 12 April 2012 and consisted of an unsecured convertible promissory note in Astrid.