CATENA MEDIA IN ANOTHER MULTI-MILLION DOLLAR SERIES OF ACQUISITIONS
This time it's US-based affiliate marketing sites that are targeted.
Stockholm listed online gambling marketing group Catena Media, which coughed up GBP 10 million earlier this month to acquire UK affiliate marketer Casino UK has announced the acquisition of three unidentified US affiliate marketing operations from their founders in a deal worth $15 million.
The report to the stock exchange reveals that Catena agreed to an upfront cash and shares deal, with 25 percent of the consideration settled through a distribution of 440,669 new shares in its business.
The three-year earn-out provisions in the agreement include a cap of $45 million based on defined revenue deliveries.
Without identifying the assets it has agreed to acquire, Catena claimed that these had recently delivered around Euro 1 million every quarter and enjoyed a 75 percent operating margin in the US-legal online casino and poker markets of Nevada and New Jersey. Their contribution will raise Catena's overall revenues from regulated markets to 50 percent.
Whilst not naming individuals, the Catena statement did reveal that two of the sites are playnj.com and USPoker.com.