Catena Media has acquired all affiliate-related assets in Germany-focused sports betting affiliate Baybets.
The purchase price amounts to an upfront payment of €26.5m, together with earn-out payments in the maximum amount of €63.5m, based on the performance of the acquired assets over a period of 24 months from December 1, 2017.
Henrik Persson Ekdahl, acting CEO at Catena, said: “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. We have set ambitious financial targets for the company and the acquisition is fully in line with those targets. We are excited about being able to complete this deal, given the upcoming sports year of 2018, which will have both the Winter Olympics and the World Cup.”
Jan Steffen, CEO at Baybets, said: “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 to reaching new heights together with Catena Media on a long-term basis, both from an operational perspective and as shareholders. We are excited for all the upcoming opportunities that await.”
