Flash (FLZH) Signs Term Sheet for 51% of Bongo; Deal gives access to 300M Viewers, ~$10M Revenue, EBITDA Accretive
Flash Sports & Media Holdings (NASDAQ: FLZH) said it signed a non-binding term sheet to buy a 51% controlling stake in Bongo Holdings Pte Ltd. Based on Bongo management data, Bongo is expected to contribute positive EBITDA after closing. Bongo’s platform reaches 300M viewers and has 73M social followers. Deal terms include 60% cash, 40% equity, plus up to $12M earnout.

