Gambling.com Group has acquired a mobile performance marketing network for an upfront fee of £3m (€3.4m/$4.3m).
The network focuses primarily on online casino and sports betting operators, driving more revenue from the UK than any other market.
Network developers Sabin Brooks and Mike Webb will now join Gambling.com Group and work with the company on App Store Optimisation, as well as assist an internal team with the mobile strategy for Gambling.com.
The acquisition agreement includes an earn-out of maximum of £4.5m, based on earnings performance over a period of one year.
To achieve the full earn-out amount, sellers need to generate earnings growth during of over 25%, with Gambling.com having the option to pay any portion of the earn-out payment above £3m in newly issued shares of the company.
Charles Gillespie, chief executive of Gambling.com, said: “For us, this was a rare opportunity to do an acquisition of a business that actually innovates and has defined a new segment of the market.
“Sabin and Mike are talented developers and have built a fascinating business which does something new and different.”
RB Capital Malta were the sell-side M&A advisors on the transaction.
Related article: Gambling.com targets US market with new launch