iGaming affiliate business previously known as Net Gaming, signs a letter of intent to buy gaming assets of PMG group Matching Visions for €5.5m
Acroud will take ownership of the Matching Visions igaming affiliate network, the B2B software provider Voonix and affiliate campaign specialist Traffic Grid. PMG is expected to generate sales of approximately EUR 10 - 11 million in 2020 with an EBITDA (an earn-out consideration contingent on earnings before interest, tax, depreciation and amortisation) margin of around 10%.
The agreement includes a total purchase consideration of around Eur5.5 million and an earn-out consideration which is dependent on the EBITDA achieved in 2022. Acround president and chief executive Robert Andersson commented on the agreement saying
This is a major piece in the puzzle to move Acroud strategically forward in the direction to become “the media house of the future” and a fast-growing global challenger in digital comparison and news services."
This was definitely not Acroud's only deal of the month as last week they signed a similar agreement to acquire an unidentified US tipster company.
Regarding the threefold deal with the affiliate network, the B2B software and the affiliate campaign specialist, Andersson continued to say how these acquisitions will transform Acroud's operations and they are focusing to close them efficiently.
More information will be divulged once the transfer agreement is finalized, which is expected to be around the fourth quarter of 2020.
More information will be released when a transfer agreement is signed. The acquisition is expected to be finalized towards the end of the fourth quarter of 2020.
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