Interactive gambling operator NetPlay TV has announced that it has acquired product development and marketing studio Otherside Inc for £3.2 million.
The London AIM listed operator stated that it had been actively looking at the market and considering various options as part of its stated strategy to expand the business both organically and through M&A.
Founded in 2008, Otherside specialises in online marketing, display media and affiliation, underpinned by its proprietary online marketing platform across a board range of sectors.
Otherside generated revenues of £2.6m, Adjusted EBITDA of £0.6m and profit before tax of £0.4min its unaudited financial information for the financial year ended 31 May 2015.
The NetPlay TV Board believes the acquisition of Otherside will provide NetPlay with a number of key benefits, including a gaining a robust media platform, acquiring specialist staff and bolstering NetPlay TV current and future igaming product portfolio.
Bjarke Larsen, Chief Executive Officer of NetPlay TV commented:
“I am delighted to announce the acquisition of Otherside, which will strategically align with our core business and support our digital strategy across the Group’s brand portfolio. As previously stated, NetPlay is in a strong position to pursue appropriate, value-enhancing M&A activity and we are confident that this acquisition further strengthens the Group’s digital reach. We look forward to integrating this specialist team into our operations and capitalising on the numerous commercial and margin-enhancing opportunities presented by the acquisition.