Online gambling information portal sold for Euro 15 million
News on 4 Apr 2016
News on 4 Apr 2016
Catena Media, a Stockholm Nasdaq-listed affiliate marketing company, has announced that it has inked an agreement to acquire online gambling information and affiliate portal AskGamblers.com for Euro 15 million.
The deal is Catena’s third major strategic acquisition this year.
Gibraltar-based AskGamblers is a high profile online information site which also assists players with complaints against online casino operators; the site claims that it has mediated claims valued at over Euro 5 million over its operational life.
Catena has expectations that the new acquisition will enable it to provide up to 25,000 new depositing players to European operators in 2016.
Catena CEO Robert Andersson, claimed in a statement that AskGamblers is one of the best brands in the affiliate market and an extremely important site for casino operators.
“The purchase price amounts to Euro 15 million, which will be paid in three tranches: Euro 3 million will be paid on completion of the transaction; Euro 8.25 million will be paid when all assets have been transferred to Catena Media and Euro 3.75 million will be paid six months after the acquisition has been completed,” Andersson revealed.
“The transaction is the largest in Catena Media’s history and in line with our strategy of growth through acquisitions in a fragmented market. In parallel, we are strengthening our team with a number of highly skilled individuals and this transaction provides us with the opportunity to build the office in Serbia into an extremely cost-efficient development centre for Catena Media.”
