7digital’s acquisition of Snowite adds scale, reach and technical capabilities. It also tilts the revenue profile even further towards higher-growth, high-margin streaming services. Platform integration should afford considerable synergies, driving consensus EPS forecast upgrades of 50% for FY17. For a growth company, the post-deal FY17e EV/EBITDA rating of 5.2x and P/E of 9.6x is a very attractive entry point.

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