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BRIEF-Crawford & Co says Entered Into Asset Purchase Agreement With Praxis Consulting, Inc, Game Tight, Inc. And J. Robert Ford

reuters ·  Oct 4, 2021 10:42

Oct 4 (Reuters) - Crawford & Co CRDb.N :

* CRAWFORD & CO - ENTERED INTO ASSET PURCHASE AGREEMENT WITH PRAXIS CONSULTING, INC, GAME TIGHT, INC. AND J. ROBERT FORD

* CRAWFORD & CO - TO PURCHASE, ACQUIRE AND ASSUME FROM PRAXIS, SUBSTANTIALLY ALL OF PRAXIS' ASSETS, CERTAIN OF PRAXIS' LIABILITIES FOR $55.5 MILLION

* CRAWFORD & CO - PAYMENT IS STRUCTURED AS AN UPFRONT PAYMENT OF $45.5 MILLION IN CASH WITH

$25.5 MILLION PAID AT CLOSING AND $20.0 MILLION PAID IN JANUARY 2022

* CRAWFORD & CO - PAYMENT OF REMAINING BALANCE OF $10.0 MILLION IS STRUCTURED UNDER VARIOUS EARNOUT SCENARIOS OVER A TWO-YEAR PERIOD

Source text - Further company coverage: CRDb.N

((Reuters.Briefs@thomsonreuters.com;))

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