Stockholm-listed industry affiliate marketing network Catena Media has announced that it has entered the financial services marketing sector by acquiring Malta-based network Beyondbits Media Ltd.
Catena governance expects to complete its outright acquisition of Beyondbits Media by the end of November 2017. The company will pay an upfront €9.25 million transaction in which €2.75 million paid through Catena Media share placement.
The Stockholm-listed enterprise has further added a €5 million in performance-based deal enhancements for Beyondbits Media stakeholders.
Catena details that its new acquired assets are expected to generate quarterly sales of approximately EUR 750.000, with an operating margin of approximately 70%, as the company expands its acquisition services. Updating investors, Henrik Persson Ekdahl, Acting CEO of Catena Media commented on the acquisition of Beyondbits Media;
“Through this acquisition, we are making a strategic expansion into a new and regulated vertical that has grown strongly and that we have followed during a long time. We are a market leader in lead generation and we see great opportunities to grow in the financial sector. The acquisition will complement our existing offering very well and fits perfectly into our organization and technology platform”.