Catena Media plc acquires horse racing site: gg.co.uk
Catena Media plc, the online performance marketing company, has acquired gg.co.uk, a site in the UK that concentrates on horse racing. Through the acquisition, the firm aims to secure its position in the UK – entering a new area within sports betting.
The CEO of Catena Media, Henrik Persson Ekdahl, commented: “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.”
GG.co.uk is a strong and reputable horse racing brand, with an extensive product offering. Catena Media hope that the acquisition will compliment its other UK-based assets, such as BettingPro.com.
Initially, the purchase price, payable in conjunction with the transfer of the assets, totals to an upfront, cash-only payment of GBP 2 million.
At present, the acquired asset generates quarterly sales of about GBP 150.000 per quarter.
The assets will be consolidated into Catena Media by June 2018.