Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Zix Corporation    ZIXI

ZIX CORPORATION

(ZIXI)
  Report  
Real-time Quote. Real-time Cboe BZX - 08/20 04:00:11 pm
7.565 USD   -1.50%
07:35aZix Sets September 2019 Financial Conference Schedule
GL
08/05ZIX : Sets August 2019 Financial Conference Schedule
BU
08/01ZIX : 2Q Earnings Snapshot
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Zix Closes Acquisition of AppRiver, Creating Leading Cloud-based Cybersecurity Solutions Provider: Zix Corporation

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/04/2019 | 04:50pm EDT

2019 MAR 04 (NewsRx) -- By a News Reporter-Staff News Editor at Mergers & Acquisitions Daily News -- Zix Corporation (Zix) (NASDAQ: ZIXI), a leader in email security, has closed its previously announced acquisition of AppRiver, a leading provider of cloud-based cybersecurity solutions, for $275 million in cash, subject to a customary working capital adjustment and reduction for outstanding AppRiver indebtedness, certain accrued items and transaction expenses.

“Today is a significant day for Zix and AppRiver employees, customers, partners, and shareholders, as we complete the acquisition of AppRiver and create one of the leading email and security solutions providers, particularly for the small and mid-size business market,” said David Wagner, Zix’s Chief Executive Officer. “Over the last three years we aligned our business with the growth drivers that are propelling our industry, especially our customers’ migration to the cloud, which is still in its early innings. This acquisition further strengthens that alignment by bolstering our security offerings, expanding our go-to-market channels, and providing a stronger cloud platform to drive even more value for our customers and partners. We’re excited to enter this new chapter of our value creation journey. We will focus on integrating the two businesses, accelerating our growth through channel partners and cross-selling, and increasing our profitability through cost synergies and improved attach rates.”

As previously announced, concurrent with the close of the acquisition, Zix entered into a credit agreement with a syndicate of financial institutions and SunTrust Bank, as administrative agent, for a new five-year $175 million term loan, a $10 million delayed draw term loan facility and a $25 million revolving credit facility. The company also secured a new $100 million convertible preferred equity investment from True Wind Capital. In connection with True Wind’s convertible preferred equity investment, Zix expanded its board of directors to eight members and appointed True Wind Founding Partner James H. Greene, Jr. and True Wind Principal Brandon Van Buren as directors.

As previously disclosed, the Annual Recurring Revenue (ARR) of the combined company (representing the projected future revenue to be generated over the ensuing 12-month period) is approximately $180 million at the time of closing. Zix is targeting ARR of approximately $200 million to $207 million for 2019, which represents an organic growth rate of approximately 11% to 15% year-over-year. Zix management is also expecting revenue of approximately $47 million to $50 million with a 24% adjusted EBITDA margin in the fourth quarter of 2019.

The company will provide more complete guidance on its fourth quarter and full year 2018 earnings call, scheduled for February 28, 2019. About Zix Corporation Zix Corporation (Zix) is a leader in email security. Trusted by the nation’s most influential institutions in healthcare, finance and government, Zix delivers a superior experience and easy-to-use solutions for email encryption and data loss prevention, advanced threat protection, unified information archiving and bring your own device (BYOD) mobile security. Focusing on the protection of business communication, Zix enables its customers to better secure data and meet compliance needs. Zix is publicly traded on the Nasdaq Global Market under the symbol ZIXI. For more information, visit www.zixcorp.com.

(Our reports deliver fact-based news of research and discoveries from around the world.)

Copyright © 2019 NewsRx LLC, Mergers & Acquisitions Daily News, source Business Newsletters

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ZIX CORPORATION
07:35aZix Sets September 2019 Financial Conference Schedule
GL
08/07ZIX : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF..
AQ
08/05ZIX : Sets August 2019 Financial Conference Schedule
BU
08/02ZIX : Results of Operations and Financial Condition, Financial Statements and Ex..
AQ
08/01ZIX : 2Q Earnings Snapshot
AQ
08/01ZIX CORP : Results of Operations and Financial Condition, Financial Statements a..
AQ
08/01ZIX : Reports Second Quarter 2019 Financial Results
BU
07/18CITIES UNDER SIEGE : AppRiver's Midyear Cybersecurity Report Finds: Local Govern..
BU
07/10ZIX : to Announce Second Quarter 2019 Results on August 1
BU
06/18ZIX : Extends Unified Information Archiving to Assist AppRiver Partners and Cust..
BU
More news
Financials (USD)
Sales 2019 172 M
EBIT 2019 32,3 M
Net income 2019 -15,8 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -28,0x
P/E ratio 2020 65,8x
Capi. / Sales2019 2,37x
Capi. / Sales2020 1,97x
Capitalization 406 M
Chart ZIX CORPORATION
Duration : Period :
Zix Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ZIX CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Average target price 12,25  $
Last Close Price 7,57  $
Spread / Highest target 84,9%
Spread / Average Target 61,8%
Spread / Lowest Target 32,1%
EPS Revisions
Managers
NameTitle
David J. Wagner President, Chief Executive Officer & Director
Robert C. Hausmann Non-Executive Chairman
William J. Kadonsky Vice President-Business Operations
David E. Rockvam VP, Chief Financial & Accounting Officer
David J. Robertson Vice President-Engineering
Sector and Competitors
1st jan.Capitalization (M$)
ZIX CORPORATION32.11%412
ACCENTURE38.42%124 357
INTERNATIONAL BUSINESS MACHINES CORPORATION18.80%119 629
TATA CONSULTANCY SERVICES14.37%113 467
AUTOMATIC DATA PROCESSING28.86%73 319
VMWARE, INC.5.14%59 000