FFI Holdings PLC (AIM:FFI) entered into a letter of intent to acquire Reel Media LLC in June 2017. FFI Holdings PLC (AIM:FFI) completed the acquisition of Reel Media LLC for $8.6 million on December 21, 2017. FI is purchasing Reel Media on an instalment basis, with an initial cash payment of $7.25 million and 5 annual payments equivalent to a 6 times multiple of 8.6% of trailing EBITDA thereafter. In the trailing twelve months, Reel Media generated $9.9 million in revenues and adjusted EBITDA of $2.56 million. The current management of Reel Media will continue to oversee the operations and growth of the company going forward.