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BRIEF-Snap acquired cloud-hosted platform company for $20.1 mln in March
May 11, 2017 / 10:31 AM / 2 months ago

BRIEF-Snap acquired cloud-hosted platform company for $20.1 mln in March

1 Min Read

May 11 (Reuters) - Snap Inc:

* Snap Inc - in March 2017, acquired all outstanding shares of a company that operates cloud-hosted platform for building content online for $20.1 million

* Snap Inc - purchase consideration included $18.2 million in cash, $1.9 million recorded in other liabilities on consolidated balance sheet

* Snap Inc - provided for $20 million in form of RSUS to certain continuing employees of acquired company in exchange for future service

* Snap Inc - intend to hire "significant number" of engineering and sales personnel in Venice, California and surrounding areas Source text: (bit.ly/2r4JuSh) Further company coverage:

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