Catena Media, the Malta-based financial lead generators, announced their latest acquisition of UK-based gg.co.uk, a horse racing focused website, for an initial purchase price of $2.79m.
gg.co.uk were acquired in line with Catena’s strategic growth policy of expanding into new verticals and geographic locations. The site boasts impressive SEO services as well as ‘a wide range of product offerings and services.
The £2m ($2.79m) initial purchase price will be paid all upfront in a cash only payment. This will be finalised once gg.co.uk is successfully consolidated, which Catena say should happen by June 2018.
Currently the acquired sites assets generate quarterly sales of $209,000. The acquisition will bolster the company’s position in the UK adding to the previously acquired BettingPro.com, another UK-based site.
Commenting on the company’s acquisition Henrik Persson Ekdahl, CEO of Catena Media, said: “Catena Media has a strong strategy for growth and an outspoken ambition to break into new online services. It is our firm belief that this small yet strategic and very well-known site enjoys vast opportunities for growth. Catena Media will be the partner that delivers on these opportunities.”
This will be the company’s 5th acquisition of the year. In 2017 the company made a total of ten acquisitions which played a large role in growing the company’s revenue by 69% in the year.