Affiliate giant Catena Media is acquiring leading Italian sports news and lead generator company ASAP ITALIA for €16m.
The acquisition adds to Catena Media’s portfolio and sees the company take a major stake in Italy’s market. ASAP ITALIA generates revenues of around €300,000 per month.
The assets will be consolidated into Catena Media by July 2018 at the latest.
With predominantly organic traffic and a strong SEO rating, ASAP ITALIA’s principal focus is on sports and the company’s growth opportunities are perceived to be vast. ASAP ITALIA was founded in 2010, and almost 100 per cent of its customers derive from the regulated Italian market.
“This is a strong acquisition for Catena Media, which will make us the number one lead generator within online sports betting in Italy,” said Catena’s CEO Per Hellberg.
“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. I am very pleased to welcome them to the Catena Media team.”
The initial acquisition consideration amounts to an up-front cash payment of €12.5m, plus a €3.5m deferred consideration in cash after 12 months, making it a total cash payment of €16m.
There is also an earn-out of a maximum €6m, based on revenue performance over a period of one year, with up to 50 percent of the earn-out able to be paid through shares in Catena Media.
