Affiliate Announcements

Acroud strengthens the position within Streaming and SaaS in Sports Betting and Poker through the acquisition of TheGamblingCabin

Published

5 years ago

April 19, 2021

Acroud AB, has entered into an agreement to acquire 100 percent of the shares in Swedishsantas AB also known as TheGamblingCabin (“TheGamblingCabin “) from Swedishsantas Media AB (the “Transaction”) for a consideration of approximately SEK 47.3 million, on a cash- and debt- free basis. The Transaction also includes a potential additional consideration based on EBITDA development during the period from 1 April 2022 up to and including 31 March 2023. The consideration is paid in cash and in newly issued Acroud shares (the “Consideration”). The Transaction is based on Acroud’s signed letter of intent and previously communicated press release dated 17 February 2021. TheGamblingCabin is a fast-growing company offering a software based tipster service as well as some very popular video content within Sports Betting, Poker and Horse Racing. TheGamblingCabin has a clear “strategic fit” with Acroud strengthening the software offerings (SaaS) as well as adding some of the most popular ways of consuming media, YouTube and Twitch, to Acroud’s offering. TheGamblingCabin generated annualized sales of app EUR 1.4 million based on the 9 month period Q220-Q121 with an EBITDA margin of approximately 65 percent reaching an EBITDA of EUR 0.9 million. The Transaction is not subject to any further conditions and is completed as of 15 April 2021.

The Transaction in brief

The Transaction is in line with Acroud’s previously communicated strategy to become a fast-growing global challenger in digital comparison and news services.

The Transaction is in line with previous completed acquisitions and is expected to contribute to increased sustainable revenues and profits through an increased market and product diversification through new verticals, markets and media channels.

The Transaction will lead to a lower risk profile with more stable revenue generation and profitability.

The Transaction is based on Acroud’s letter of intent signed on 17 February 2021.

The consideration for 100 percent of the shares in Swedishsantas AB, on a cash- and debt- free basis, amounts to approximately SEK 47.3 million paid at closing (the “Upfront Consideration”)

Approximately SEK 23.6 million, of the Upfront Consideration will be paid with 7,709,202 Acroud shares (the “Consideration Shares”), at a subscription price of SEK 3.07 per Acroud share (corresponding to EUR 0.30 per share).
50 percent of the Consideration Shares will be subject to a one year lock-up and 50 percent are subject to a two year lock-up from today’s date.

Approximately SEK 23.6 million of the Upfront Consideration will be paid in cash.
An additional consideration can be paid based on a multiple of 5 times the EBITDA generated during the period from 1 April 2022 up to and including 31 March 2023 reduced with an annualized EBITDA based on the Q220-Q121 (the “Earn-Out Consideration”). The Earn-Out Consideration is paid with 50 percent in newly issued shares in Acroud and the reminder in cash (the “Earn-Out Consideration Shares”). The price for the Earn-Out Consideration Shares will correspond to the average price of the Acroud share on Nasdaq First North Growth Market for the 30 consecutive calendar days preceding 1 April 2023 (which corresponds to the end of the period when the mentioned targets are measured). The Earn-Out Consideration amounts to a maximum of approximately SEK 82 million.

Background and rationale

TheGamblingCabin’s main revenue source is through its “software based tipster service” as well “traditional” affiliation revenue generated by high quality online video content. TheGamblingCabin has only revenues from regulated markets and sees great potential for geographical expansion.

This potential acquisition fits well to Acroud’s strategy, and Acroud sees significant synergies and expansion possibilities down the line. TheGamblingCabin’s current growth rate, on stand-alone basis is also good. With TheGamblingCabin Acroud will rapidly expand the streaming offering and rich content throughout Acroud’s global network and other business lines.

The acquisition of TheGamblingCabin is in line with the previously communicated new strategy. Together with the previously communicated acquisitions, the TheGamblingCabin positions Acroud as not only a leading affiliate within Casino, Sport Betting and Poker, but also it strengthens Acroud’s position on the market as a SaaS provider.

With TheGamblingCabin business, Acroud sees not only a strong financial growth driver but also significant synergies across the future operational organization.

“This is the next step of the implementation of Acroud’s strategy to be the “Media House of the Future” and a fast growing global player within Streaming and software solutions for the media affiliation industry. TheGamblingCabin’s “reduction tool” is an industry leading software and TGC’s digital presence with “movable media” is impressive and something that may be expanded internationally. The acquisition together with the other recent acquisitions are together considered transformative and additive for each other. We are building a company where all parts complement each other. Focus will after the acquisition be on “operational excellence” and to develop the new Acroud together with our new team and partners for an existing journey ahead” Robert Andersson, CEO and President, Acroud

Bengt Sonnert, CEO at TheGamblingCabin comments the Transaction;

“To become a part of Acroud was actually nothing that we even thought about initially, but the more we understood what Acroud is building it felt as an easy choice. They share our visions and provide us with new and greater possibilities to bring our business to the next level.”

Purchase Price, Earn-Out Consideration, Lock-Up Period

The upfront purchase price of approximately SEK 47.3 million, on a cash- and debt- free basis, is paid with approximately SEK 23.6 million in cash and approximately SEK 23.6 million is paid with 7,709,202 newly issued Acroud shares. The Consideration Shares are issued at a price of SEK 3.07 per share (EUR 0.30 per share).

The Earn-Out Consideration, which is subject to TheGamblingCabin generating a certain financial performance during the period from 1 April 2022 up to and including 31 March 2023, will be paid with 50 percent in newly issued shares and the reminder in cash. The price for the Earn-Out Consideration Shares will correspond to the average price of the Acroud share on Nasdaq First North Growth Market for the 30 consecutive calendar days preceding 1 April 2023 (which corresponds to the end of the period when the mentioned targets are measured). The Earn-Out Consideration amounts to a maximum of approximately SEK 82 million.

50 percent of the Consideration Shares will be subject to a one year lock-up and 50 percent are subject to a two year lock-up from today’s date. The Earn-Out Consideration Shares will be subject to a one year lock-up as of the date of the issuance.

Issue of Consideration Shares and Earn-Out Consideration Shares

The board of directors of Acroud has today resolved to issue and allot the Consideration Shares pursuant to the authorization granted by the annual general meeting on 25 June 2020. The Earn-Out Consideration Shares will be issued after confirmation of TheGamblingCabin having reached the relevant financial performance.

The Consideration Shares represent 5.95 percent of the total number of shares and votes in Acroud on a fully diluted basis. By issuing the Consideration Shares, the number of shares and votes increase by 7,709,202. The share capital increases by EUR 195 031.05.

The number of shares and the increase of the share capital, upon issuance of the Earn-Out Consideration Shares, will depend on the outcome of the targets for the Earn-Out Consideration and the share price development for Acroud’s share.

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Affiliate Announcements

Management Buyout Successfully Completed at ReferOn

Published

22 hours ago

May 11, 2026

George Miller

ReferOn, an affiliate management platform for the iGaming sector, today revealed the successful conclusion of a management buyout. Former General Manager Alex Bukin purchases the platform, moving the company into its next stage of independent growth. Bukin will take on the position of Chief Executive Officer (CEO) to advance the company.

Assessing the platform’s path three years after its launch, Alex Bukin, CEO of ReferOn remarked: “This is a significant moment for ReferOn and marks the start of a new phase for the company.” The management buyout offers us the long-term perspective needed to consistently enhance the platform. We uphold our dedication to product development, enhancing our solutions for partners, and facilitating ReferOn’s ongoing expansion in significant markets.

The acquisition comes after a significant phase of advancement for the firm. Established on a base of operational effectiveness and scalable technology, ReferOn persists in expanding its footprint throughout the industry. In its initial year, the platform announced 35.7 million clicks, 2.4 million sign-ups, 18,000 affiliates, and 136,000 active trackers. The company’s extensive range of tools enhances flexibility for operators and affiliates, generating momentum that recently led to ReferOn being recognized as the “Best Affiliate Platform” in 2025 and 2026 by key industry players.

This change will not impact daily operations; assistance and current collaborations will continue as normal. As part of its continuous growth strategy, ReferOn is enhancing its product lineup with the introduction of new features, such as Refie, the integrated interface layer of the platform. The platform continually improves user experience and security via dynamic reporting, Company Grouping, Sub-Affiliation, Independent Deal Calculation (IDC), two-factor authentication (2FA), and thorough mobile optimization.

To maintain operational continuity, the current leadership team stays intact, guaranteeing stability as the company moves into its next phase of growth. With Bukin’s appointment as CEO, Vlad Bondarenko has moved from Head of Product to Chief Product Officer, and David Harris, who was previously Operations Lead, has become Chief Operations Officer. As the organization embarks on its next phase, it continues to prioritize equipping operators with top-tier tools and a dedication to providing the future of affiliate management.

Affiliate Announcements

Tiki Taka Play Partners with NetRefer for its Affiliate Marketing Platform

Published

2 months ago

March 10, 2026

George Miller

Tiki Taka Play enhances its affiliate marketing strategy by partnering with NetRefer, driving growth and engagement in the gaming industry.

Spanish online casino operator Tiki Taka Play has partnered with NetRefer, the industry’s leading data-driven, AI-powered affiliate marketing platform, to power and manage its affiliate programme as the brand continues to grow its presence in Spain’s regulated online gaming market.

First launched in early 2025, Tiki Taka Play marked a significant step in the digital expansion of Grupo Tiki Taka Games, a national company with more than 50 years of experience in the land-based gaming sector. Originally established as a family-run gaming machine business, the group has grown into a recognised operator within Spain’s leisure and entertainment industry, with operations spanning gaming halls, betting venues, and amusement activities.

With Tiki Taka Play, the group extends that experience into the digital environment. The platform has been developed to bring the standards of its land-based operations online, offering players a structured and reliable gaming experience built around accessibility, trust, and long-term engagement.

The operator’s online catalogue includes a wide selection of slots alongside classic table games such as blackjack and roulette, as well as immersive live casino experiences. This curated offering allows Tiki Taka Play to cater to a broad spectrum of player preferences while maintaining a professional and consistent gameplay environment.

Operating within Spain’s regulated gaming framework, Tiki Taka Play holds the relevant licences granted by the Dirección General de Ordenación del Juego (DGOJ). Compliance, transparency, and responsible gaming therefore, sit at the centre of the operator’s approach, reinforcing the standards that have guided Grupo Tiki Taka Games throughout its decades-long presence in the industry.

Affiliate marketing forms a central pillar of Tiki Taka Play’s growth strategy as the brand establishes its presence in the competitive Spanish online gaming market. By selecting NetRefer, the operator gains access to a platform designed to deliver performance clarity, reliable tracking, and efficient partner management. Through NetRefer’s API technology, Tiki Taka Play benefits from seamless data transfer and real-time integration, allowing the operator to manage affiliate data accurately while maintaining operational efficiency across its programme.

Beyond these integrations, NetRefer’s broader ecosystem provides additional capabilities designed to support affiliate programme performance at scale. Solutions such as NetRefer BI Analytics enable advanced and customisable reporting, while NetRefer CoPilot AI enhances access to performance insights and operational knowledge through intelligent, data-driven assistance.

Reflecting on the process of selecting an affiliate platform, Marc De Rueda Colomés, COO of Tiki Taka Play, said, “When preparing the launch of Tiki Taka Play, we spoke with a number of our affiliates to understand which platforms they trusted most. NetRefer consistently stood out as one of the most balanced solutions in terms of service and value. The platform’s reporting and analytics tools are already proving valuable for our team, and the professionalism and dedication shown by the NetRefer team from the beginning of our collaboration have reinforced our confidence in the partnership.”

Greice Bezerra, Regional Acquisitions Specialist at NetRefer, commented, “Tiki Taka Play’s partnership with NetRefer represents an exciting step in the digital evolution of Grupo Tiki Taka Games. We’re proud to support their team with reliable technology and flexible integrations that provide the transparency, performance insights, and operational confidence needed to build and scale a successful affiliate programme in the competitive Spanish online gaming market.”

As Tiki Taka Play continues to expand its presence in Spain’s regulated online gaming market, the partnership with NetRefer provides the technology and operational foundation needed to support the growth of its affiliate programme. With greater performance visibility, advanced reporting capabilities, and scalable affiliate infrastructure, the operator is well-positioned to strengthen its partner network and drive sustainable digital growth.

Affiliate Announcements

IZIGROUP Partners with PartnerMatrix to Expand Global Reach

Published

7 months ago

October 22, 2025

George Miller

IZIGROUP Partners with PartnerMatrix to Expand Global Reach

A new chapter of innovation begins as PartnerMatrix, one of the industry’s leading affiliate marketing software providers, partners with IZIGROUP to strengthen its global presence and enhance player acquisition through smarter, data-driven, and fully compliant marketing technology.

The collaboration will empower affiliates promoting IZIGROUP’s online brands, IZIBET and Dragonara Online Casino with cutting-edge tools to manage, track, and optimize campaigns more efficiently. This partnership reflects a shared vision for growth, innovation, and regulatory excellence within the evolving iGaming landscape.

PartnerMatrix, part of the EveryMatrix group, is known for delivering flexible, secure, and high-performing solutions that enable operators to scale their affiliate programs globally while maintaining compliance and transparency values deeply aligned with IZIGROUP’s operational philosophy.

“PartnerMatrix’s platform is the best in the industry, robust, reliable, and designed for performance,” said Cristian Rachieru, Head of Online Operations for IZI Interactive Limited, the company licensed by the Malta Gaming Authority (MGA) to operate IZIGROUP’s online gaming brands.

“With PartnerMatrix and the full suite of EveryMatrix products powering our operations, we’re ready for a full house. This partnership will further strengthen our ability to connect with players globally while remaining compliant and delivering exceptional online gaming experiences.”

Hasmik Movsisian, Chief Commercial Officer at PartnerMatrix, added: “We are delighted to partner with IZIGROUP, a company that shares our dedication to innovation and responsible growth. By combining our advanced affiliate management technology with IZIGROUP’s strong brand portfolio, we’re confident in driving higher engagement, stronger performance, and lasting success within regulated markets.”

This collaboration marks an important milestone in IZIGROUP’s continuous journey of innovation and expansion. By uniting PartnerMatrix’s affiliate marketing expertise with IZIGROUP’s trusted brand portfolio and the EveryMatrix ecosystem, the partnership sets the stage for long-term success and sustainable growth.