Net Gaming has completed its previously announced acquisition of affiliate assets from Webwiser in Germany, Austria and Switzerland (DACH).
Last month, Net Gaming revealed it had signed a letter of intent to purchase the unnamed assets for an initial €2.3m ($2.7m), as well as further €1.3m should the assets achieve a certain EBITDA during the 12 months after the transaction goes through.
Net Gaming has now signed an agreement to acquire these affiliate assets from Webwiser and plans to consolidate them immediately.
In addition, Net Gaming said it expects the assets to have a positive impact on its profit.
“The acquisition strengthens our position in the DACH region; we have identified the DACH region as one of the geographical markets with the highest growth potential in the long run,” Net Gaming chief executive Marcus Teilman said.
“This transaction will give us further opportunities to grow our existing operations in the region, and also expand these assets to new markets.
“Considering the fact the founders will remain and continue to work with the assets for Net Gaming feels truly great, since we have got a great first impression of the said founders.”
André Boeck, founder and chief executive of Webwiser, added: “We are truly excited at finding the right buyer for our business, and are looking forward to work with the team at Net Gaming to take the websites to the next level.
“With its proven track record and a group of savvy people around, Net Gaming takes a great leap forward to become a major player in performance marketing on the DACH market.”
RB Capital were the sell-side advisors on the transaction.
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