Catena Media continues growth strategy with Online Media acquisitions

na Media has moved to strengthen its reach in sports betting with the acquisition of assets in UK-based affiliate Online Media.

The company will make an up-front cash payment of £11.65m by 25 May, as part of a deal that sees it take control of the bets.co.uk, bonuses.co.uk and iGamble.co.uk domains.

The agreement also includes an earn-out maximum of £5.77m, based on the revenue performance of the acquired assets in the 12 months after the deal is completed.

Catena Media stated that the acquired assets have a running rate of sales of €300,000/month, and a pre-tax profit margin of more than 70%.

Robert Andersson, Catena Media CEO, said: “We work continuously to identify attractive acquisition prospects that complement and strengthen our portfolio.

“The acquired assets in Online Media will strengthen the sports betting offering and broaden the existing media offering to customers by adding alternative display marketing. The transaction will also further strengthen our position in the UK.”

Online Media’s Paul Speakman commented: “We are now taking the next step in our development as part of Catena Media. We believe that this is the right time for us, as together we will be able to provide an even more powerful platform for growth.”