Harte Hanks Inc

Star Equity Holdings announced a merger agreement to acquire Harte Hanks for $5 per share, valuing the deal at approximately $38 million on a fully diluted basis. The consideration will be paid half in cash and half in Star Equity preferred stock, with Harte Hanks shareholders able to elect their preferred form subject to a $19.2 million cash cap. Star Equity expects to realize $10 million in cost synergies, with combined pro forma revenue around $400 million and adjusted EBITDA of approximately $30 million. The transaction includes a 30-day go-shop period and is expected to close by the end of 2026. Star Equity also reported second quarter results, with Energy Services revenue up 19% to $3.9 million and adjusted EBITDA up 126% to $1.2 million, while Building Solutions revenue fell to $14.6 million from $20.4 million a year earlier.