CATENA ACQUIRES ONLINE GAMBLING INFORMATION SITE FOR EURO 10.6 MILLION
Online marketing group has big plans for Casino UK.
Catena Media, an online marketing group, has announced the acquisition for a consideration of Euro 10.6 million of online gambling information and review site Casino UK (casinouk.com).
Catena revealed this week that the acquisition generates revenue of around Euro 600,000 per quarter, with an operating margin of 80 percent, and most of its revenue coming from the UK market.
The terms of the agreement call for Catena Media to absorb and integrate all the assets of Casino UK, creating positive synergies.
Catena chief executive Robert Andersson said in a statement that the deal strengthens his company's presence in the UK.
This is the second UK acquisition by Catena in recent months; In October the marketing company paid Euro 3.2 million, with an earn-out provision of potentially Euro 10.5 million, for the sports betting information site SBAT.
For a company that was only founded four years ago, Catena is following a fast growth path, and has operating bases in Malta, Serbia, and the United Kingdom.
This year alone, the company has acquired several successful affiliate sites across Europe, one of them (Ask Gamblers in Serbia) for Euro 15 million.