Gambling.com Group Plc Strengthens the Company’s Position by Acquiring the Leading Player for Mobile Performance Marketing
Developers Sabin Brooks and Mike Webb have developed websites & mobile apps that specialize in gambling content for mobile users for the last four years. The network focuses primarily on online casino and sports betting operators and drives more revenue from the United Kingdom than any other market. With this latest purchase, Gambling.com Group opens up an entirely new and quickly growing channel through which it can grow its performance marketing business.
“Sabin and Mike are talented developers and have built a fascinating business which does something new and different. For us this was a rare opportunity to do an acquisition of a business that actually innovates and has defined a new segment of the market. I look forward to building and improving all of our products alongside Sabin and Mike.” said Charles Gillespie, Gambling.com Group Chief Executive.
The developers will join Gambling.com Group and share their knowledge of mobile development and App Store Optimization (ASO) with the rest of the organization, assisting an internal team with the mobile strategy for Gambling.com. The arrangement will last through at least March 31st, 2019.
The purchase price amounts to an upfront payment of GBP 3.0 million which will be paid as a cash consideration in conjunction with the transfer of the assets. In addition, there is an earn-out of maximum GBP 4.5 million which is based on earnings performance over a period of one year. In order to achieve the full earn-out amount, the sellers need to generate earnings growth during the earn-out period of over 25%. Gambling.com Group may choose to pay any portion of the earn-out payment above GBP 3 million in newly issued shares of the company.