Catena to purchase ASAP Italia for €16m
Catena Media has agreed a deal to acquire sports news and lead-generator ASAP Italia for €16m ($18.5m).
The initial acquisition consideration amounts to an up-front cash payment of €12.5m, while a deferred cash consideration of €3.5m will also be paid after 12 months.
In addition, Catena could make an earn-out payment of up to €6m, based on the revenue performance of the business over a period of one year.
Catena said the acquisition will allow the company to take a “major stake in the Italian market”, with ASAP Italia generating monthly revenue of approximately €300,000.
Founded in 2010, the majority of ASAP Italia’s customers derive from the Italian market.
Per Hellberg, who earlier this month was announced as the new chief executive of Catena, said: “This is a strong acquisition for Catena Media, which will make us the number one lead generator within online sports betting in Italy.
“Italy was one of the first countries in Europe to regulate the online gaming sector.
“This is a company that maintains a very high level of quality in terms of compliance and I am very pleased to welcome them to the Catena Media team.”
Related article: Catena confirms Hellberg as new chief executive