Stockholm-listed industry affiliate marketing network Catena Media enters the Italian online betting space, confirming that it has agreed to acquire sports publisher ASAP ITALIA.
Updating the market, Catena governance will put forward a cash consideration of €12.5 million to acquire all ASAP ITALIA assets, combined with a further €3.5 million in deferred considerations after 12-months (deal value – €16 million).
Furthermore, the transaction has been enhanced with a performance earn-out reward of €6 million based on revenue performance over the period of one year, in which Catena targets to increase ASAP’s revenue capacity by 50%.
Catena Media’s portfolio and entails the company taking a major stake in the Italian market. “ASAP ITALIA generates revenues of about EUR 300,000 per month,” Catena Media details in its corporate update
Confirming Catena Media’s latest acquisition, Chief Executive Per Hellberg stated that his firm had secured a prime marketing asset for the Italian online betting market, obtaining strong lead generation capabilities through organic SEO rankings.
“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. I am very pleased to welcome them to the Catena Media team”.