Catena Media expands into financial services with €9.25m acquisition

liate network Catena Media has announced the agreement of a €9.25m deal to purchase the assets of Malta-based company Beyondbits Media Limited.

The deal, which includes Beyondbits sites Aktiendepot.com and Qomparo.de is subject to an upfront payment of €9.25m, with €2.75m of this amount to be paid via the transfer of shares in Catena Media.

It is also subject to a maximum earn-out of €5m based on the revenue performance of the acquired assets in the twelve months following completion of the deal.

Beyondbits monitors developments in financial markets, providing information and comparison services for traders. The business primarily focuses on the DACH region of Germany, Austria and Switzerland.

In a statement accompanying the acquisition news, Acting CEO of Catena Media, Henrik Persson Ekdahl said: "Through this acquisition, we are making a strategic expansion into a new and regulated vertical that has grown strongly and that we have followed during a long time.

"We are a market leader within lead generation and we see great opportunities to grow in the financial sector. The acquisition will complement our existing offering very well and fits perfectly into our organisation and technology platform.”