The initial upfront cost of the acquisition will be €8.2m, of which €6.2m will be paid in cash, with the remaining €2m paid in newly issued shares in Catena Media.

These shares will be issued at a subscription price of SEK 120.97 per share on the Nasdaq Stockholm stock exchange.

As with many of Catena’s acquisitions there is also an earn-out  which is based on revenue performance of the acquired assets over one year, subject to a maximum of €5.7m.

ParisSportifs.com is one of the leading sports betting sites in France, generating traffic numbers, primarily from search engines and its Twitter and Youtube channels. Its sites currently generate quarterly sales of about EUR 500.000.

In a statement announcing the deal, Henrik Persson Ekdahl, acting CEO of Catena Media said:”I am very proud that we are now entering the regulated French market through this strategic acquisition of ParisSportifs.”

On Thursday, the company announced a €3.6m deal to acquire German affiliate site BrokerDeal.de, a deal which signalled the company’s entry into the German affiliate market.

Ekdahl added: This is in line with our growth strategy and strengthens our leading position in Europe. It’s also a strategic move for us, bringing growth in sports betting with the FIFA World Cup just around the corner.”