Stockholm Nasdaq-listed Catena Media has entered the regulated US online gambling market by confirming the acquisition of licensed affiliate website assets from three separate US founders.
The total upfront cash and shares deal is valued at $15m, with 25% of the deal being settled through a distribution of 440,669 new shares in its business. Based on revenue performance of the assets over a period of three-years, it has also placed a $45m cap earn-out.
The iGaming marketing company will now be able to add three new verticals to its business, with the firm’s poker arm to have support from websites that target eSports and daily fantasy sports.
Should other US states re-regulate online gaming, the acquisitions will also allow Catena to take on a range of assets that are expected to generate significant revenues.
Website co-founder and seller to Catena Media, Aaro n McCann comments: “We are very excited about this opportunity, which will not only see Catena Media becoming the largest regulated casino affiliate in the US, but also puts us in pole position to take advantage of further re-regulation in what has the potential to become the world’s largest iGaming market.
“This is an important step in realising our vision to become the world’s number one provider of high-value iGaming leads.
“We are impressed with Catena Media and are excited to join their strong and experience team, which will enable us to take advantage of the many strategic and financial benefits expected from the regulation in the US. We look forward to continuing the journey we have started, and Catena Media is a great match for us.”