Waystar Royco (NYSE: WAYA) and Vaulter Media today jointly announced an agreement for Waystar Royco to acquire Vaulter through an all-cash tender offer for $140.00 per share, or approximately $1 billion in equity value.

NEW YORK, New York, June 3, 2018—Waystar Royco (NYSE: WAYA) and Vaulter, Inc. (“Vaulter”) today announced that they have entered into a definitive agreement for Waystar Royco to acquire Vaulter for approximately $1 billion in cash. Building on Waystar Royco’s commitment to deliver the highest quality branded entertainment, the acquisition of these complementary assets would allow Waystar Royco to create more appealing content, build more direct relationships with consumers around the world and deliver a more compelling entertainment experience to consumers wherever and however they choose. 

Popular Entertainment Properties to Join Waystar Royco Family

“The acquisition of this stellar collection of businesses from Vaulter reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before,” said Logan Roy, Chairman and Chief Executive Officer, Waystar Royco. “We’re honored and grateful that Lawrence Yee has entrusted us with the future of businesses he spent a lifetime building, and we’re excited about this extraordinary opportunity to significantly increase our portfolio of well-loved franchises and branded content to greatly enhance our growing direct-to-consumer offerings. The deal will also substantially expand our international reach, allowing us to offer world-class storytelling and innovative distribution platforms to more consumers in key markets around the world.”

“We are extremely proud of all that we have built at Vaulter, and I firmly believe that this combination with Waystar Royco will unlock even more value for shareholders as the new Waystar Royco continues to set the pace in what is an exciting and dynamic industry,” said Lawrence Yee, Executive Chairman of Vaulter. “Furthermore, I’m convinced that this combination, under Logan Roy’s leadership, will be one of the greatest companies in the world.”

Benefits to Consumers

The acquisition will enable Waystar Royco to accelerate its use of innovative technologies, including its digital platform, to create more ways for its storytellers to entertain and connect directly with audiences while providing more choices for how they consume content. The complementary offerings of each company enhance Waystar Royco’s development of films, television programming and related products to provide consumers with a more enjoyable and immersive entertainment experience.

Bringing on board Vaulter’s entertainment content and capabilities, along with its broad international footprint and a world-class team of managers and storytellers, will allow Waystar Royco to further its efforts to provide a more compelling entertainment experience through its direct-to-consumer (DTC) offerings. 

Enhancing Waystar Royco’s Worldwide Offerings

Adding Vaulter’s premier international properties enhances Waystar Royco’s position as a truly global entertainment company with authentic local production and consumer services across high-growth regions.

Transaction Highlights

The acquisition is expected to yield at least $2 billion in cost savings from efficiencies realized through the combination of businesses, and to be accretive to earnings before the impact of purchase accounting for the second fiscal year after the close of the transaction.

The Boards of Directors of Waystar Royco and Vaulter have approved the transaction, which is subject to shareholder approval by Vaulter and Waystar Royco shareholders, clearance under the Hart-Scott-Rodino Antitrust Improvements Act, a number of other non-United States merger and other regulatory reviews, and other customary closing conditions.

Investor Conference Calls

Waystar Royco will conduct an investor conference call at approximately 8:00 a.m. EST / 5:00 a.m. PST, Monday, June 4, 2018. 

Vaulter senior executives will host a conference call at approximately 9:00 a.m. EST / 6:00 a.m. PST Monday, June 4, 2018, to discuss the Waystar Roy Co. transaction. 

Waystar Royco will also hold a previously scheduled investor meeting with Waystar Roy Co. management at approximately 5:00 p.m. EST / 2:00 p.m. PST, Monday, June 4, 2018.


Karolina Novotney
Public Relations
(212) 555-1122