Catena expands into France with latest acquisition
Catena Media has extended its service offering into France after agreeing a deal to acquire all affiliate assets in ParisSportifs.com.
The initial purchase price amounts to an up-front payment of €8.2m ($6.6m), of which €6.2m will be paid in cash and the €2.0m in newly issued Catena shares.
The deal also includes an earn-out of a maximum €5.7m, which will be based on revenue performance over a 12-month period.
ParisSportifs.com operates as a sports betting website in France and Catena said that the acquired assets currently generate quarterly sales of approximately €500,000.
The assets will be consolidated in Catena before the end of the month.
Persson Ekdahl, acting chief executive of Catena, said: “I am very proud that we are now entering the regulated French market through this strategic acquisition of ParisSportifs.
“This is in line with our growth strategy and strengthens our leading position in Europe.
“It’s also a strategic move for us, bringing growth in sports betting with the Fifa World Cup just around the corner.”
The deal comes after Catena last week brokered a similar agreement to acquire all affiliate assets in German financial lead generator BrokerDeal.de.Related article: Catena acquires affiliate assets in BrokerDeal.de