Stockholm Nasdaq-listed Catena Media has announced its acquisition of online gambling review and player services portal AskGamblers.com for €15 million.
Catena Media specializes in affiliate marketing and player acquisition services for the European igaming sector. This is its third strategic acquisition of 2016.
AskGamblers is based in Gibraltar and considered one of the most leading affiliates in the online gambling market. The website provides its users with unique casino-related dispute services.
Catena Media said it expects a substantial potential for growth with AskGamblers expecting to provide 25,000 new depositing players to European operators in 2016.
Issuing an official statement on the acquisition of AskGamblers, commented:
“We are incredibly proud of acquiring AskGamblers which is one of the best brands in the affiliate market and whose operations are a perfect fit for Catena Media,” said Robert Andersson, CEO of Catena Media in a press release. “AskGamblers is an extremely important site for casino operators and, through its stringent requirements for certified casinos, contributes to creating a better iGaming industry.
“The purchase price amounts to €15 million, which will be paid in three tranches: €3 million will be paid on completion of the transaction; €8.25 million will be paid when all assets have been transferred to Catena Media and €3.75 million will be paid six months after the acquisition has been completed.” Andersson said. “The transaction is the largest in Catena Media’s history and in line with our strategy of growth through acquisitions in a fragmented market. In parallel, we are strengthening our team with a number of highly skilled individuals and this transaction provides us with the opportunity to build the office in Serbia into an extremely cost-efficient development center for Catena Media.”
