Iconix Brand Group Inc acquired the worldwide rights to American tattoo artist Don Ed Hardy's brand from Nervous Tattoo in a $55 million deal that raised its stake in the brand to 85 percent. Iconix, which acquired a 50 percent interest Hardy Way LLC -- owner of the Ed Hardy brand and trademarks -- in 2009, also raised its full-year expectations to reflect the acquisition. News of the acquisition, coupled with strong results, drove Iconix's shares up 5 percent to $23.56 -- their highest in over three years. On a pro-forma basis, Iconix expects the Ed Hardy brand to generate total annual royalty revenue of about $15-16 million. The deal also included a $7 million earn-out.
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