Catena Media ventures into Italian sports betting market by acquiring ASAP ITALIA
Catena Media plc (“Catena Media”) is acquiring Italy’s market-leading sports news and lead-generator, company ASAP ITALIA. The acquisition adds the country’s largest lead generator to Catena Media’s portfolio and entails the company taking a major stake in the Italian market. ASAP ITALIA generates revenues of about EUR 300,000 per month.
ASAP ITALIA owns the premier lead generation site for sports in Italy with predominantly organic traffic and a very strong SEO rating. Its principal focus is on sports and the company’s growth opportunities are vast. ASAP ITALIA was founded in 2010, and almost 100 percent of its customers derive from the regulated Italian market.
“This is a strong acquisition for Catena Media, which will make us the number one lead generator within online sports betting in Italy.” – Per Hellberg, CEO
The initial acquisition consideration amounts to an up-front cash payment of EUR 12,5 million plus a EUR 3,5 million deferred consideration in cash after 12 months, making it a total cash payment of EUR 16 million.
There is also an earn-out of a maximum EUR 6 million, based on revenue performance over a period of one year. With a maximum earn-out payment of EUR 6 million, the sellers would need to generate revenue growth of about 50 percent during the earn-out period of one year. Up to 50 percent of the earn-out may be paid with shares in Catena Media plc.
“Italy was one of the first countries in Europe to regulate the online gaming sector. This is a company that maintains a very high level of quality in terms of compliance. I am very pleased to welcome them to the Catena Media team”. – Per Hellberg, CEO
The assets will be consolidated into Catena Media latest by July 2018.
About Catena Media
Catena Media provides companies with high quality online lead generation. Through strong organic growth and strategic acquisitions, Catena Media has, since 2012, established a leading market position with approximately 300 employees in the US, Australia, Japan, Serbia, the UK, Sweden and Malta (HQ). Total sales in 2017 reached EUR 67.6 million. The company is listed on Nasdaq Stockholm Mid Cap.
Further information is available at www.catenamedia.com