ACCO Brands To Acquire Computer And Gaming Accessories Firm Trust From Egeria For Undisclosed Sum

(RTTNews) - Friday, ACCO Brands Corporation (ACCO) announced an agreement to acquire Trust, a European provider of computer and gaming accessories, from Egeria, a pan-European investment firm. The financial details of the deal were not disclosed.

The company expects the acquisition to shift its product and brand portfolio toward higher-growth technology peripherals.

ACCO projects to realize cost synergies of approximately $5 to $8 million within 18 months after closing.

The deal will be funded through borrowings under ACCO Brands' revolving credit facility, with limited impact to pro forma leverage.

The acquisition is scheduled to be close in late third quarter or early fourth quarter.

In the pre-market hours, ACCO is trading at $4.26, down 1.39 percent on the NYSE.