Raketech has finalised the acquisition of QM Media and its subsidiary P&P Vegas Group.
With the final documents signed, QM, alongside P&P, will now operate as an integrated part of the iGaming performance marketing partner.
In a move Raketech hopes will strengthen its sports portfolio and American footprint, this purchase will see it gain major QM assets like Onlinecricketbetting.net and Picksandparlays.net.
The company already claims to have identified several growth and development opportunities for the acquired assets, including the implementation of Raketech’s technology infrastructure and introduction of affiliate marketing sales in all licensed states in the US.
Oskar Mühlbach, CEO of Raketech, said: “I’m satisfied that we now formally have closed this important acquisition, the largest to date for Raketech, and to be reinforced with a network of sports betting experts and profitable assets with significant grow potential.
“I am also very happy to welcome our new colleagues, together we will continue to work on our growth strategy — to increase our market share through product diversification, geographical expansion, increased monetisation through R&D as well as M&A, with a specific focus on the US.”
This deal will cost the company €16m ($18.8m) on a cash and debt-free basis, to be settled in a cash payment of €9m with the remainder paid in shares.
However, Raketech is hoping that this deal, coupled with others already agreed in 2021, will add more than €6m in revenue and increase its margins by as much as 4% on a yearly basis.
This comes off the back of the acquisition of Spanish-based casino affiliate marketing company Infinileads for €4.5m in August.