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A Stockholm-based online gambling affiliate business, Catena Media, has purchased Germany –based sports affiliate Baybets Ltd for a cool €26.5 million.
The deal also includes a further €65 million in ‘earn-out payments’ based on the performance of acquired assets over an initial 24-month period with BayBets anticipated to contribute quarterly sales of approximately €2.25 million and an operating margin of approximately 70%.
Henrik Persson Ekdahl, Acting CEO, Catena Media, commented: “We are proud to announce the largest acquisition made by Catena Media since company inception, making us one of the strongest sports betting affiliate players on the market. We have set ambitious financial targets for the company, and the acquisition is fully in line with those targets. We are excited about being able to complete this deal, given the upcoming sports year of 2018, which will have both the Winter Olympics and the World Cup”.
Jan Steffen, CEO, Baybets stated “I would like to thank all the people that have been involved in the company’s journey so far, bringing us to where we are today. We now look forward reaching new heights together with Catena Media on a long-term basis, both from an operational perspective and as shareholders. We are excited about all the upcoming opportunities that await”.
Monday’s announced acquisition follows July’s purchase of affiliate program BettingPro.com with a focus on acquiring leads for regulated UK and Australian iGaming partners.
Catena Media also maintains offices in Malta, the UK and Serbia.
- Aaron Goldstein, Gambling911.com
