Catena Media scores major stake in Italian market
Catena Media will acquire Italian sports news and lead generator company ASAP ITALIA for €16m. This addition to their portfolio will see the company significantly increase its stake in the Italian market, with ASAP ITALIA netting revenues of around €300,000 per month – assets which will be consolidated into Catena Media by July 2018.
ASAP ITALIA’s main focus is on sports, with its customer base derived entirely from the regulated Italian market. With strong SEO ratings and predominantly organic traffic, the company is expected to see huge opportunities for growth.
“This is a strong acquisition for Catena Media, which will make us the number one lead generator within online sports betting in Italy,” said Catena’s CEO Per Hellberg.
“Italy was one of the first countries in Europe to regulate the online gaming sector. This is a company that maintains a very high level of quality in terms of compliance. I am very pleased to welcome them to the Catena Media team.”
The initial acquisition consideration amounts to an up-front cash payment of €12.5m, plus a €3.5m deferred consideration in cash after 12 months, making it a total cash payment of €16m.
There is also an earn-out of a maximum €6m, based on revenue performance over a period of one year, with up to 50% of the earn-out able to be paid through shares in Catena Media.
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