Malta-based online iGaming marketing company Catena Media has spent $15 million to buy a number of American affiliate marketing web sites that drive traffic to online casinos.
Since the company's IPO in early 2016, it has taken on an aggressive acquisition strategy, buying, among others, a German analysis company and the British betting site SBAT.
The total upfront purchase price amounts to $15 million, whereof 25 percent will be settled with 440,669 new Catena Media shares. Additional earn-out payments could amount to a maximum of $45 million, and will be based on revenue performance during the next three years.
The acquired assets’ current revenue run rate is around €1 million per quarter, with an operating margin of around 75 percent.
The names of the acquired assets were not mentioned in the press release.
“We are very excited about this opportunity, which will not only see Catena Media becoming the largest regulated casino affiliate in the US, but also puts us in pole position to take advantage of further re-regulation in what has the potential to become the world’s largest iGaming market. This is an important step in realizing our vision to become the world´s number one provider of high value iGaming leads”, says Robert Andersson, CEO of Catena Media.