Catena Media acquires Newcasinos.com for €7.65 millionby Joker 24.05.2017 0 comments
Stockholm-listed industry affiliate marketing network Catena Media has moved to expand its European publisher portfolio by confirming the acquisition of casino review portal Newcasinos.com and its related assets.
Catena governance details that it has acquired one of the fastest growing European market affiliates with an established presence in the UK, Norway and Sweden.
Detailing its acquisition breakdown, Catena will purchase Newcasinos.com and all related assets for an upfront cash payment of €7.65 million. The deal has a further €4.25 million in performance earn-out incentives.
Growing its affiliate network, Catena governance details that Newcasinos.com will generate immediate revenue and earnings for its company, with its new asset contributing €500,000 in quarterly sales.
Updating investors Robert Andersson Catena Media CEO commented on his firm’s purchase
“Catena Media has been in the forefront of the consolidation in the affiliate market and wants to keep a leading role. The company is predominantly focusing on larger assets since we are well positioned to capitalize on our size and growth. With this acquisition we are acquiring another successful online casino affiliate to complement and strengthen our portfolio. The sellers have demonstrated a solid growth and an interesting content offering. This is fully in line with our strategy of partly growing through acquisitions and continuing our solid growth story”
This month, Catena governance has been given the option to release an additional €50 million in funds from its secured maximum €100 million 2019 secured bond. The company has detailed that funds could be accessed to expand its industry M&A strategy growing its affiliate marketing network assets.