Catena Media acquires assets in Online Media
Catena Media has acquired various assets in UK-based sports betting affiliate Online Media.
Under the deal, Catena will make an up-front cash payment of £11.65 million (€13.7 million/$15 million), no later than May 25.
The agreement also includes an earn-out of maximum €5.77 million, based on the revenue performance of the acquired assets during the year from the closing date of the deal.
The acquisition includes domain names such as Bets.co.uk, Bonuses.co.uk and iGamble.co.uk, as well as related assets.
Catena said the assets have a running rate of sales of approximately €300,000 per month, in addition to a pre-tax profit margin of over 70%.
Robert Andersson, chief executive of Catena, added: “We work continuously to identify attractive acquisition prospects that complement and strengthen our portfolio.
“The acquired assets in Online Media will strengthen the sports betting offering and broaden the existing media offering to customers by adding alternative display marketing.
“The transaction will also further strengthen our position in the UK.”
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