Raketech Plc has agreed to acquire QM Media, finalising a deal valued at €16 million, to boost the sports media inventory of its publishing network.
This afternoon, Raketech confirmed that it had agreed to acquire QM Media and its P&P Vegas North American subsidiary outright.
Deal terms will see Raketech pay €9 million in cash upfront, with the remainder of the valuation paid as a share settlement.
Updating stakeholders, Raketech outlined that it had identified significant opportunities in the acquisition, which will see its sports portfolio enlarged across North America and Europe.
Oskar Mühlbach, CEO of Raketech, said: “I’m satisfied that we now formally have closed this important acquisition, the largest to date for Raketech, and to be reinforced with a network of sports betting experts and profitable assets with significant grow potential.
“I am also very happy to welcome our new colleagues, together we will continue to work on our growth strategy — to increase our market share through product diversification, geographical expansion, increased monetisation through R&D as well as M&A, with a specific focus on the US.”
During H2 trading, Raketech agreed terms on a €15 million credit facility underwritten by Finnish bank Avida Finans to help finance the M&A expansion of its affiliate marketing network.
Positive interim results, saw Raketech leadership outline its goals to acquire and integrate earnings effective assets in underpenetrated markets, with a focus on North American growth.