Gambling.com has announced that its completed the purchase of a mobile performance marketing network for £3m.
The developers behind the newly acquired brand, Sabin Brooks and Mike Webb have spent the past four years developing websites and mobile apps that specialise in gambling content for mobile users in a variety of jurisdictions.
The network focuses primarily on online casino and sports betting operators and drives more revenue from the United Kingdom than any other market.
Charles Gillespie, Gambling.com Group Chief Executive commented: “Sabin and Mike are talented developers and have built a fascinating business which does something new and different. For us this was a rare opportunity to do an acquisition of a business that actually innovates and has defined a new segment of the market. I look forward to building and improving all of our products alongside Sabin and Mike.”
With this acquisition, Gambling.com Group opens up an entirely new and quickly growing channel through which it can grow its performance marketing business.
The purchase price amounts to an upfront payment of £3m, which will be paid as a cash consideration in conjunction with the transfer of the assets. In addition, there is an earn-out of maximum £4.5m which is based on earnings performance over a period of one year.
In order to achieve the full earn-out amount, the sellers need to generate earnings growth during the earn-out period of over 25%. Gambling.com Group may choose to pay any portion of the earn-out payment above £3m in newly issued shares of the company.