Leo Holdings Corp. Completes Business Combination with Digital Media Solutions LLC (“DMS”)

Leo Holdings Corp. (NYSE: LHC), a Cayman Islands exempted company (“Leo”), and Digital Media Solutions LLC (“DMS”), a leading provider of technology and digital performance marketing solutions leveraging innovative, performance-driven brand and marketplace solutions to connect consumers and advertisers, announced today that they have completed their previously announced business combination. The total enterprise value of the transaction was $757 million. The business combination agreement was approved by Leo’s shareholders at an extraordinary general meeting held on July 14, 2020.

Upon completion of the business combination, Leo changed its name to Digital Media Solutions, Inc., and its Class A common stock and warrants are expected to begin trading on the New York Stock Exchange (NYSE) under the ticker symbols “DMS” and “DMS WS,” respectively, commencing on July 16, 2020.

DMS’ management team, led by Joe Marinucci, Co-Founder and Chief Executive Officer, Fernando Borghese, Co-Founder and Chief Operations Officer, and Randall Koubek, Chief Financial Officer, will continue to lead the combined company. Lyndon Lea, formerly Chairman and Chief Executive Officer of Leo, will serve as a director on the combined company’s board. Clairvest Group, Inc. (TSX: CVG), a leading private equity investor, as well as the DMS management team, collectively own a majority of the combined company, after rolling over significant equity.

Lyndon Lea stated, "We are pleased to complete the business combination with DMS and are looking forward to partnering with the management team in the next stage of DMS’ financial growth and market expansion.”

“Today marks a pivotal day in DMS history, and we would not be here were it not for the extraordinary commitment, leadership, innovation and passion of the people who comprise DMS. We are excited to partner with our new board of directors and investors as we continue to execute on the DMS growth plan, now as a public company. We are also grateful to Clairvest who has been a great partner and instrumental to our success, and we look forward to continuing to work alongside them as stockholders and board members. Today's transaction allows DMS to continue to support our organic growth and acquisition strategy, strengthening our position as a premier, brand-first, performance-based marketing partner to customers across industry segments,” said Joe Marinucci, CEO of DMS.