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VPRT > SEC Filings for VPRT > Form 8-K on 18-Feb-2014All Recent SEC Filings

Show all filings for VISTAPRINT N.V.

Form 8-K for VISTAPRINT N.V.


Other Events, Financial Statements and Exhibits

Item 8.01. Other Events

On February 18, 2014, Vistaprint N.V. entered into a share purchase agreement to acquire all of the outstanding shares of People & Print Group B.V., a limited company incorporated in the Netherlands, for a base purchase price of 24 million and a sliding-scale earn-out payment subject to both a minimum EBITDA margin for calendar year 2014 and revenue and EBITDA performance targets for calendar year 2015. Under the share purchase agreement, 20 million of the base purchase price is payable in cash upon the closing of the transaction, subject to customary purchase price adjustments, and the remaining 4 million is payable in Vistaprint's ordinary shares in January 2016 and will be converted into shares at that time.

In calendar 2013, revenue from People & Print Group sites was approximately 34 million, reflecting year-over-year growth of over 20 percent. People & Print Group's EBITDA in calendar 2013 was approximately 3 million, reflecting 16% year-over-year growth. The base purchase price represents a valuation multiple of 8.3 times trailing twelve month EBITDA.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

See the Exhibit Index attached to this report.

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