Catena moves into horse-racing with GG.co.uk deal

Catena Media is to expand into the horse-racing sector after agreeing a deal to acquire UK-based GG.co.uk.

The initial purchase price, payable in conjunction with the transfer of assets, will amount to an upfront cash payment of £2m (€2.3m/$2.8m).

Catena said that the acquired asset currently generates quarterly sales of around £150,000 per quarter and will help to enhance its other UK-based assets, such as BettingPro.com.

GG.co.uk, which operates as a specialist racing website, last month struck up a marketing partnership with Gaming Innovation Group.

Henrik Persson Ekdahl, chief executive of Catena Media, said: “Catena Media has a strong strategy for growth and an outspoken ambition to break into new online services.

“It is our firm belief that this small yet strategic and very well-known site enjoys vast opportunities for growth.

“Catena Media will be the partner that delivers on these opportunities.”

Related article: GiG targets horseracing move with GG.co.uk deal