Catena Media acquires competitor Stay Media
Catena Media has signed an agreement to acquire 100 percent of the shares in the Swedish company Stay Media. The acquisitions will generate immediate synergies and strengthen Catena Media’s leading position in the lead generation market of online casinos. The total purchase price amounts to EUR 3 million.
Stay Media operates in the same industry as Catena Media and owns strategic assets such as www.freespins.se,www.mobilcasino.com and www.bonusjakt.com. The acquisition of Stay Media is in line with Catena Media’s growth strategy, which is to grow both organically and through acquisitions. The purchase price consists of both shares in Catena Media and cash.
“With the strategic acquisition of Stay Media we will strengthen our leading position in lead generation market for online casino and we achieve immediate synergies within our business to generate traffic to our partners” says Robert Andersson, CEO of Catena Media.
The acquisition of Stay Media and the earlier acquisition of Dutch online media company LJFK are important milestones for Catena Media in preparation for the possible IPO that will create new opportunities for further expansion and the ability to invest in one of the largest and fastest growing companies in the online casino industry.
Catena Media was founded in 2008 by Swedish entrepreneurs Erik Bergman and Emil Tidell . In 2013 came the venture capital company Optimizer as major shareholders , but the founders are still at large shareholdings .
“Catena Media is one of the gaming industry’s biggest players in its field, and the purchase of another well managed and successful company that provides similar services and owns valuable domain names, creates a large value for Catena”, says Henrik Persson, partner Optimizer Invest, one of the largest shareholders in Catena Media.
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