Catena Media To Strengthen Its Position In Germany
A little over two months after purchasing online poker traffic comparison website PokerScout.com for $350,000 and Catena Media has announced that it now intends to spend a little over $11.6 million in order to acquire Dreamworx Online Limited.
Malta-headquartered Catena Media is an online performance marketing firm and declared that the purchase price is due to involve a cash payment of approximately $6.7 million with the remainder paid via the issuance of new shares.
Catena Media, which also has offices in Serbia and the United Kingdom, further explained that the deal will see Dreamworx Online Limited folded into its Baybets sports division and lead to expected additional quarterly sales of around $734,700 courtesy of its Malta-based target’s 80% operating margin.
Stockholm-listed Catena Media moreover stated that Dreamworx Online Limited is responsible for German-language sportsbetting information domains including Sportwettenanbieter.com and Fussballwetten.info alongside financial services comparison website DeutscheFXBroker.de and that it expects to conclude the transaction ‘for the end of January 2018’.
“The assets of Dreamworx Online Limited will strengthen our position as the leading affiliate in Germany,” read a Thursday statement from Henrik Persson Ekdahl, Acting Chief Executive Officer for Catena Media. “This will place us in the top position short-term for the 2018 FIFA World Cup as well as long-term.”