Acquisition of Todoroo, Inc.

RNS Number : 8545D

TMT Investments PLC

02 May 2013

 

2 May 2013

TMT INVESTMENTS PLC

("TMT" or the "Company")

Acquisition of Todoroo, Inc.

TMT Investments PLC, which invests in high-growth internet-based companies across a variety of sectors, is pleased to announce that its portfolio company Todoroo, Inc. ("Astrid") has been acquired by Yahoo! Inc.

The terms of the transaction documents preclude TMT from disclosing the terms of the transaction until 2 July 2013.  The consideration receivable by TMT for the transaction represents an increase from the latest book value of TMT's investment in Astrid. 

The transaction was completed on 1 May 2013.

TMT's original investment in Astrid was made on 12 April 2012 and consisted of an unsecured convertible promissory note in Astrid.

For further information contact:

TMT Investments Plc Mr. Alexander Selegenev www.tmtinvestments.com	[phone] [e-mail]
ZAI Corporate Finance Ltd. NOMAD and Broker Marc Cramsie/Irina Lomova	[phone]
Kinlan Communications David Hothersall	Tel. [phone] [e-mail]

About TMT Investments

TMT Investments PLC invests in high-growth, internet-based companies across a variety of sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has raised USD28m and invested in 25 companies to date. The company's objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation. The company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.com

 

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