Catena Media Announces the Acquisition of All Affiliate Related Assets in the BayBets
Catena Media has acquired all affiliate related assets in largest German-focused sports betting affiliate BayBets for an upfront payment of €26.5m
Catena Media plc (“Catena Media”) has agreed to acquire all affiliate related assets in Baybets Ltd (“Baybets”). The purchase price amounts to an upfront payment of €26.5m, and also includes earn-out payments of up to €63.5m, based on the performance of the acquired assets over a period of 24 months beginning the 1st of December, 2017.
According to Catena Media, the integration is expected to be completed in the mid-December, 2017. The acquisition is set to generate quarterly sales of approximately EUR 2.25 million with an operating margin of approximately 70%.
The acquisition includes 50 websites and other affiliate related assets, as well as a current team of 23 employees, who will form part of Catena Media’s Sports division, based at its offices in Malta. With the acquisition of BayBets, Catena Media is expecting to strengthen its offering within the sports betting segment and the German market, where BayBets is primarily focused.
Henrik Persson Ekdahl, Acting CEO, Catena Media, says, “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.”
“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 for all the upcoming opportunities that await”, says Jan Steffen, CEO, BayBets.