Catena completes record acquisition of Baybets
Catena Media has acquired all affiliate related assets in Baybets for an upfront payment of €26.5m ($31.4m).
The deal, which represent the largest acquisition for Catena since its inception, also includes earn-out payments of up to €63.5m, based on the performance of the assets over a period of 24 months, beginning December 1 this year.
Catena said the purchase will help to strengthen its offering in the sports betting segment, as well as in the German market, where Baybets is primarily focused.
The acquisition includes 50 websites and various other affiliate related assets, as well as a team of 23 employees, who will form part of Catena’s Sports division at its offices in Malta.
Catena said it expects to complete the integration of Baybets into its business by the middle of this month, with the acquisition set to generate quarterly sales of approximately €2.25m, with an operating margin of around 70%.
“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,” Catena’s acting chief executive Henrik Persson Ekdahl said.
“We have set ambitious financial targets for the company, and the acquisition is fully in line with those targets.”
Jan Steffen, chief executive of Baybets, added: “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.”
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