LegalZoom.com (LZ) said late Monday it has acquired Formation Nation, a business services company, for $49.3 million in cash upfront and 2.2 million restricted shares.
The company said it will pay an additional $15.4 million in cash conditional on a one-year holdback and customary adjustments.
The deal is expected to "positively" contribute to adjusted earnings before interest, taxes, depreciation and amortization and be accretive to adjusted earnings per share in the first year of the acquisition, the company said.
LegalZoom reported preliminary Q4 and full-year 2024 revenue of $161.7 million and $681.9 million, respectively. Analysts polled by FactSet expect $161 million and $681.1 million.
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