Stockholm-listed industry affiliate marketing network, Catena Media continues to expand its German market footprint, confirming the acquisition of Dreamworx Online Ltd for a total consideration of €9.5 million.
Updating the market, Catena governance has agreed to acquire all Dreamworx’s related assets and portals active within German sports betting, casino and financial services.
The agreed transaction will see Catena governance pay a €5.5 million cash instalment, combined with a further €4 million in newly issued Catena Media shares.
At present, Catena details that Dreamworx assets are expected to generate quarterly sales of approximately €600,000, with an operating margin of approximately 80 percent.
Updating investors, Catena CEO Henrik Persson Ekdahl detailed that Dreamworx’s digital assets would be managed by the recently acquired Baybets Malta team, which will move to optimise the future earnings potential of Catena’s expanded german market portfolio.
“The assets of Dreamworx will strengthen our position as the leading affiliate in Germany. This will place us in the top position, short-term for the World Cup 2018 as well as long-term,” detailed Henrik Persson Ekdahl.