By Sabela Ojea
LegalZoom.com acquired Formation Nation, a small business advisory services company, for $49.3 million in cash upfront.
The online legal-technology and services company on Monday said that the deal, which includes 2.2 million of its shares, will help it attract higher value customers through Formation Nation's customer service teams.
An additional $15.4 million in cash is subject to a one-year holdback and customary adjustments.
As part of the agreement, LegalZoom.com will hire Formation Nation's employee base of over 140 people, the company said.
The transaction 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.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 10, 2025 17:30 ET (22:30 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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