Stockholm Nasdaq-listed Catena Media has this morning announced that it has agreed to acquire online gambling review and player services portal AskGamblers.com (AskGamblers) for a total consideration of €15 million.
Catena Media, who specialise in affiliate marketing and player acquisition services for the European igaming sector, completes its third strategic acquisition of 2016.
Gibraltar-based AskGamblers is considered one of the most reputable high coverage affiliates in the online gambling sector.
The website provides its users with unique casino-related dispute services via its portal, to date, this has resulted in more than €5 million being repaid to players in disputed claims.
Detailing its acquisition of AskGamblers, Catena Media management noted that the asset had achieved high levels of organic traffic through its services. Furthermore, Catena Media expects substantial potential for growth with AskGamblers expecting to provide 25,000 new depositing players to European operators in 2016.
Issuing an official statement on the acquisition of AskGamblers, Robert Andersson, CEO of Catena Media commented
“We are incredibly proud of acquiring AskGamblers which is one of the best brands in the affiliate market and whose operations are a perfect fit for Catena Media. AskGamblers is an extremely important site for casino operators and, through its stringent requirements for certified casinos, contributes to creating a better iGaming industry.”
“The purchase price amounts to €15 million, which will be paid in three tranches: EUR 3 million will be paid on completion of the transaction; EUR 8.25 million will be paid when all assets have been transferred to Catena Media and €3.75 million will be paid six months after the acquisition has been completed.”
“The transaction is the largest in Catena Media’s history and in line with our strategy of growth through acquisitions in a fragmented market. In parallel, we are strengthening our team with a number of highly skilled individuals and this transaction provides us with the opportunity to build the office in Serbia into an extremely cost-efficient development centre for Catena Media,”
Igor Salindrija, Founder of AskGamblers.com commented on the deal
“Catena Media has grown into one of the most interesting actors in our industry and it feels particularly exciting that AskGamblers will now enter the next phase together with them,”
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