Industry affiliate marketing network Catena Media enters the Italian online betting market confirming that it has acquired digital sports media publisher ASAP Italia for a total consideration of €16 million.
Updating the market, Catena governance has put forward €12.5 million cash deal to acquire all ASAP portals and lead generation services. Furthermore, the Stockholm-listed enterprise will add ‘€3.5 deferred consideration’ for after operating ASAP assets for 12-months.
Completing his first corporate acquisition as Catena Media CEO, Per Hellberg details that his company has acquired a premium Italian sports portal, with prominent SEO positions and organic traffic.
“This is a strong acquisition for Catena Media, which will make us the number one lead generator within online sports betting in Italy.”
“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” Hellberg details to Catena investors.
Entering the Italian betting market, Catena will now move to revamp ASAP asset portfolio and lead generation services with its proprietary network systems.
Seeking to quickly expand its presence within the new market of Italy, Catena governance has attached a further €6 million earn-out incentive on ASAP performance over an initial 12-month period.
“Thee 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.” Catena details in its corporte release.