Catena Media acquires New Jersey affiliate group
Catena Media has completed another acquisition after sealing an $11m (€8.9m) deal for New Jersey igaming affiliate BonusSeeker.com.
The initial purchase price of $6.5m includes $1m to be paid with newly issued shares at prevailing market rate in Catena Media, an igaming marketing company, with the rest in cash. In addition, there is an expected earn-out of $5.5m based on revenue performance over a period of two years.
BonusSeeker, which provides users with reviews of all the legal casino operators in New Jersey, currently generate sales of about $450,000 per quarter.
Catena recently bought Dreamworx Online, Squawka and Baybets.
“Through the acquisition of these assets we confirm our position as the number one player in igaming lead generation in the US,” said Henrik Persson Ekdahl, acting chief executive of Catena Media.
“This is completely in line with our growth strategy and is a big step in furthering our lead to our European and American competitors. Furthermore, it is a strong signal to the industry that we are picking up pace in the US market.”
Per Hellberg, formerly of Nordic Gaming Group, is to take over as Catena’s chief executive in the autumn.
Related article: Catena Media confirms Hellberg as CEO