Catena Media acquires Squawka.com and related assets from Squawka Ltd.
Catena Media plc has acquired Squawka.com and related assets from Squawka Ltd. Squawka is a high-volume traffic global football news site with a Daily Fantasy Sports (DFS) section in beta version.
The main site currently attracts 4 million users per month, and has around 800k followers on social media. The purchase price amounts to a one-time upfront payment of US$1.2 million to be paid through cash consideration. The acquisition is expected to generate annual sales of approximately US$2.3 million with an estimated 60 percent margin.
Through the acquisition of the assets in Squawka, Catena Media is looking to strengthen its offering within the sports betting segment, particularly in the football vertical. Integration will commence immediately upon completion of the transaction and it includes a team of 4 employees that will relocate to Catena Media’s London office and be part of Catena Media’s Sports division. Squawka and its related sites currently only generate revenues through banner advertising.
“We see potential for Squawka as a high-volume traffic site with a global audience, to which we look forward to implementing an affiliation business model. The company has invested in automatic data feeds for their user-friendly graphical interfaces, which is something we aim to integrate into other Catena Media products. Squawka will sit alongside our existing brands, increasing our coverage in the football vertical while entering the upcoming sports year,” said Henrik Persson Ekdahl, Acting CEO, Catena Media.
UK-based Squawka was founded in 2012 and has built up a strong brand with high preference in its target group. Squawka has invested time and resources in the UX/code for presenting statistics and offers a user friendly interface. Revenue is currently generated solely through the sale of banner advertising on sites including squawka.com and the DFS site, matchboss.com. The existing team consists of 4 employees based in the UK.
About Catena Media
Catena Media plc is an online performance marketing company that has established a leading position through strong organic growth and acquisitions. The business was started in 2012 and the group has approximately 245 employees in the US, Australia, Japan, Serbia, UK, and Malta, where the Head Office is situated. In 2016, revenues reached approximately EUR 40 million. The company is listed on Nasdaq Stockholm Mid Cap.