Stockholm-listed industry affiliate marketing network Raketech Group Plc has moved to expand its presence within Finland, acquiring legacy sports listings portal – Tvmatsit.com.
Updating investors, Raketech confirms that it has secured an x5.2 EBITDA transaction, valuing TVmatsit.com at a purchase price amount of €1.6 million.
In addition, Raketech will enhance its acquisition offer, with a further €300,000 in incentives to be rewarded over a 24-month period, pending agreed-upon performance targets.
Confirming the acquisition, Michael Holmberg Chief Executive of Raketech noted clear organic synergies between Tvmatsit.com and the firm’s active European sports portfolio which currently operates – TVmatchen.nu (Swe), TVsportguide.com (UK), TVsporten.dk (Den), TVsportguide.de (Ger), TVkampen.com (Nor) and Esportsguide.com (Global).
Considered one of Finland’s most trusted sports news publishers, TVmatsit generates its traffic organically by delivering a complete guide to sports broadcasting in Finland and through a successful media buying strategy.
Raketech informs that the founders of TVmatsit.com will continue to run the product post-acquisition, and also integrate successful aspects of the platform and media strategy across Raketech’s key markets.
Michael Holmberg, CEO of Raketech, said: “We are pleased to acquire TVmatsit.com, a product which complements our existing range of online sports listing platforms. The acquisition is in line with our strategy to offer all product categories in Raketech’s key markets, and until now we have lacked a guide product in Finland. We look forward to working with the TVmatsit team to further optimise the product with our content and SEO expertise, and also replicate their successful media buying strategy in other markets.”