Catena Media acquires all affiliate related assets in Baybets Ltd (“Baybets”), one of Europe’s leading affiliate marketing players in the sports betting segment, with a total of 50 websites, primarily focused on the German market.
The purchase price amounts to an upfront payment of EUR 26.5 million together with earn-out payments in the maximum amount of EUR 63.5 million, based on the performance of the acquired assets over a period of 24 months from the 1st of December 2017. The acquisition is expected to generate quarterly sales of approximately EUR 2.25 million with an operating margin of approximately 70 percent.
Through the acquisition of all affiliate related assets in Baybets, Catena Media will strengthen its offering within the sports betting segment and the very important German market. The integration of Baybets into Catena Media will commence immediately following completion of the transaction, which is expected to occur in mid-December 2017 (subject to certain customary conditions being fulfilled, such as the acquired assets being duly transferred to Catena Media). In addition to 50 websites and other affiliate related assets, the acquisition also includes a current team of 23 employees who will form part of Catena Media’s Sports division, based at its offices in Malta.
“We are proud to announce the largest acquisition made by Catena Media since company inception, making us one of the strongest sports betting affiliate players on the market. We have set ambitious financial targets for the company, and the acquisition is fully in line with those targets. We are excited about being able to complete this deal, given the upcoming sports year of 2018, which will have both the Winter Olympics and the World Cup”, says Henrik Persson Ekdahl, Acting CEO, Catena Media.
“I would like to thank all the people that have been involved in the company’s journey so far, bringing us to where we are today. We now look forward reaching new heights together with Catena Media on a long-term basis, both from an operational perspective and as shareholders. We are excited for all the upcoming opportunities that await”, says Jan Steffen, CEO, Baybets.
The initial purchase price, payable at closing of the transaction, amounts to an upfront payment of EUR 26.5 million of which EUR 13.25 million will be paid with newly issued shares in Catena Media and the remainder in cash. The shares will be issued at market value, calculated as the volume-weighted average price for Catena Media’s shares on Nasdaq Stockholm during a period of 30 trading days measured in connection with the signing date. The shares will be subject to a lock-up period of 24 months.
In addition to the initial purchase price, the seller may receive two earn-out payments based on the performance of the acquired assets over a period of 24 months from the 1stof December 2017. Catena Media may choose to pay any earn-outs in cash or in newly issued shares in the company. Any new shares issued will be issued at market value, calculated as the volume-weighted average price for Catena Media’s shares on Nasdaq Stockholm during a period of 30 trading days measured in connection with the relevant payment date.
The maximum amount of the first earn-out payment is EUR 20.0 million and is payable 45 business days after the 30th of November 2018. If paid in shares, a lock-up period of 12 months apply.
The maximum amount of the second earn-out payment is EUR 43.50 million and is payable 45 business days after the 30thof November 2019. If paid in shares, a lock-up period of 6 months apply.
In a reasonably expected scenario, the total cost of the acquisition would be approximately EUR 57.0 million, i.e. the upfront payment of EUR 26.5 million and earn-out payments in the total amount of EUR 30.5 million. In this scenario the acquired assets of Baybets needs to generate revenue growth of above 40 percent per year during the earn-out period of 24 months.
Being one of the leading actors in lead generation, Baybets’ core business is developing and maintaining comparison sites for the iGaming industry by driving traffic through high quality content and offers. Baybets’ portfolio includes sites such as sportwetten.org and sportwette.net, and the business is concentrated on the German-speaking (DACH) markets. The team consists of 23 employees based in Malta.
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.
Acroud launches The Festival Series in Bratislava
Acroud returns to the live events scene with the launch of the first edition of The Festival Series. By doing so, Acroud is strengthening its position as the bridge between land-based gaming and affiliation to create opportunities to connect operators with the player communities while also producing high-quality content to grow its digital flagship products, such as Pokerlistings.com and CasinoTop10.net.
The inaugural week-long event is a first of its kind mixed games format, incorporating Roulette, Blackjack and competitive Sportsbetting tournaments into a complete Poker tournament schedule. During the event, Acroud will host The Gambling Cabin’s Sportsbook and Matching Vision’s Slots tournaments. Whereas the (€550 buy-in) Main Event comes with a guaranteed prize pool of 300.000 Euros.
“We want the first event to be explosive! The Festival Series is something that the gaming world has never seen before on such a scale, featuring not only nonstop poker action but also boasting innovative casino and sports wagering events,” says Martin von Zweigbergk, Director of Live Events at Acroud.
To elevate players’ experience, Acroud has launched The Festival Series App, which enables networking, provides content, and keeps attendees updated before, during, and after the event. In addition, Acroud has introduced its Play Money pool betting solution on play.thefestival.com.
“Besides bringing innovation to gaming festivals and facilitating more inclusion among those who are more apt to play games outside of poker, The Festival Series intends to create a complete experience both on and off the felt,” says Robert Andersson, CEO and President, Acroud.
The venue, Banco Casino, is positioned right in the centre of Slovakia’s capital, nearby all the city’s major attractions, restaurants and nightlife.
The Festival Series will take place from Monday, September 20 until Sunday, September 26 2021, at Banco Casino in Bratislava, Slovakia.
Further information about The Festival Series and the event schedule is also available on the website www.thefestival.com. The Festival Series App is available to download on AppStore and Google Play.
CONDOR GAMING SPONSORS THE EGR POWER AFFILIATES 2021 SUMMIT
“EGR are delighted to be joined by Condor Gaming at our Power Affiliates Summit this year, the most exclusive event in the iGaming calendar. We look forward to being back in person after a virtual event last year, and thank Condor Gaming for their support in making this happen.”
Katie Renton, Event Content Manager at EGR.
iGaming’s most prestigious event, The EGR Power Affiliates 2021 Summit is back! Condor Gaming is honored to have been selected to be one of this year’s sponsors at the Summit being held at Puente Romano Resort in Marbella, Spain, on September 15-16, 2021. Industry leaders will be gathering to network, collaborate and discuss iGaming dynamics 1-on-1.
Founded in 2012, Condor Gaming is headquartered in Malta and has offices in Bulgaria, Croatia, and Serbia. Creative gamification technologies, transparent partnerships and a customer-centric vision underwrite its success. Condor Gaming has created and operates six casinos to date.
Condor Gaming is undergoing the largest expansion in its corporate history. Implementing a multi-tiered growth strategy, while staying true to its core markets, the company is engaging emerging markets that include Canada, Finland, Japan, India, Ireland, New Zealand and LATAM.
Condor Gaming is proud to be trusted by 1,700+ Affiliates. New and existing Condor Affiliates are supported with:
- ROI maximized with high conversion brands.
- Daily loyalty campaigns that drive player LTV.
- Real-time data reporting.
- Accepting traffic from multiple GEO’s.
And much more…
The pillars of a Condor Affiliate Partnership will never change. Unity and success for all will always be at the heart of Condor Gaming’s philosophy, even as the company continues to evolve in pursuit of its vision.
Condor Gaming’s Chief Marketing Officer, Prash Patel, added:
“It’s an honour to be sponsoring EGR Power Affiliates 2021 Summit. This is a prestigious event where only the best in the business are invited to participate. Condor’s drive to expand into new markets can only be achieved with high quality relations and I can’t think of a better place to meet high-performance affiliates who are shaping the future of our industry.”
Bojoko appoints Joonas Karhu as CEO
Chief Business Officer promoted to top job while current CEO Toni Halonen starts new role as Chief Product Officer
Bojoko, the award-winning online casino affiliate site, has appointed Joonas Karhu as Chief Executive Officer amid a management reshuffle.
Joonas moves into the top job from the role of Chief Business Officer, with current CEO and Bojoko Co-founder, Toni Halonen, moving to the newly created role of Chief Product Officer.
The reshuffle will see Joonas take over the day to day running of the business and take on the task of ensuring Bojoko becomes the first globally recognised online gambling affiliate brand.
He will also be responsible for strategy development and execution, driving growth, overseeing resources and development and inspiring and motivating the wider team.
In his role as Chief Business Officer, Joonas has developed strong relationships with a wide range of industry stakeholders which he will continue to work with as CEO.
As Chief Product Officer, Toni will focus on taking the Bojoko product and user experience to levels the industry has never seen before and further establishing the company as a leader in the sector.
This comes after several major product upgrades, including the launch of two in-house developed game training apps that can be downloaded from the Apple App Store and Google Play store.
Joonas Karhu, Bojoko Chief Executive Officer, said: “I am honoured to have been named CEO of Bojoko, a business that I have been proud to be a part of since the very beginning.
“Over the past four years, I have watched it grow into an award-winning, market-leading online gambling affiliate organisation with a presence in markets around the world.
“I have always worked closely with Toni in my role as Chief Business Officer and believe I am in a strong position to take over the reins and continue to drive the business forward and on to greater success.
“I’d like to thank Toni and the other co-founders for putting their trust in me and promise to do all I can to achieve the goal of Bojoko becoming the first globally recognised affiliate brand.”
Toni Halonen, Chief Product Officer at Bojoko, said: “In Joonas we have the perfect candidate for the CEO role; he knows the business and also has unrivalled knowledge of, and experience in, the market.
“This reshuffle allows me to refocus on my passions – technology and SEO – and to ensure that Bojoko continues to push the boundaries in the areas of technology and user experience.
“This really is an exciting chapter for the business, and I look forward to seeing the incredible things we can achieve under Joonas’ leadership.”
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