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Sykes to acquire personal finance digital media company Penny Hoarder

Customer engagement services provider Sykes Enterprises Inc., through its digital marketing subsidiary Clear Link Holdings LLC, agreed to buy Taylor Media Corp., doing business as The Penny Hoarder.

Pursuant to the deal, Sykes will buy The Penny Hoarder's stock for an all-cash purchase consideration of $102.5 million.

The consideration is expected to be funded through a combination of the company's credit facility and cash on hand.

The deal, which is expected to close before year-end 2020, is expected to be accretive to 2021 diluted EPS.

The Penny Hoarder is a St. Petersburg, Fla.-based personal finance digital media company.