Through the €1.4m ($1.6m) deal, Raketech expects its revenue from outside the Nordics to increase to approximately 20% of the group’s total revenue.
The fee includes the possibility of additional payments based on performance.
Oskar Mühlbach, CEO of Raketech, said: “This acquisition is ticking a lot of strategic boxes, as it gives us further footprint in markets important for our key partners, at the same time as it contributes with technical know-how in the form of a high-qualitative technical platform, together with competence within conversion optimisation and paid media.
“I am furthermore really glad to have the brilliant Lead Republik team on board and to be able to conclude that the sellers will continue their involvement for the upcoming 12 months to secure a smooth handover and accelerate further expansion into new markets.”
For the full year 2019, Raketech revenue totalled €5.8m, a fall of 23% year-on-year, while adjusted EBITDA was €2m, down 56%.
Mühlbach described the year as “an eventful and challenging time,” attributed in part to the Swedish market which was “particularly tough.”
