All ATS assets, which includes websites such as Winnersandwhiners.com and Statsalt.com, as well as its employees, have now been integrated with Raketech as it takes steps to strengthen its position in the US.
The Malta-based iGaming company claims to have already identified several growth and development opportunities for its new assets. This includes the implementation of Raketech’s technology infrastructure, as well as the introduction of affiliate marketing sales in all licensed US jurisdictions.
“With all formalities now successfully closed I look forward to combining our commercial models and to share technology and know-how between our teams to address the so-important US market,” remarked Raketech CEO Oskar Mühlbach.
“As a matter of fact, with this acquisition, over 20% of our revenue is expected from the US already during Q1 of next year, putting us in a good position in the rapidly growing US market.
“Furthermore, I am happy that through this acquisition, we will strengthen our US organisation with a strong local team with extended knowledge within the US sports industry.”
Raketech agreed ATS’ acquisition in November for $15.5m, with $12m to be settled in cash, followed by a further $1m cash payment after closing, while the remaining $2.5m would be paid via the issuance of new shares.
According to the company, the total sum constituted six times ATS’ EBITDA and 2.5 times its revenues for the past 12 months.
Mühlbach concluded: “I am confident that, together with the ATS team, we will be able to accelerate the growth of our market share in the US sports industry.”
