Catena Media is on a tear, actively seeking acquisitions to cement its leadership in the European market. They’ve just secured their second significant purchase in a matter of days, this time targeting the French affiliate, ParisSportifs.com.
This recent acquisition comes with an initial cost of €8.2 million. Catena will be paying €6.2 million upfront in cash, with the remaining €2 million covered by newly issued Catena Media stock. These shares, valued at SEK 120.97 each, will be traded on the Nasdaq Stockholm exchange.
However, there’s more. Similar to many of Catena’s strategic acquisitions, this agreement includes an earnout payment capped at €5.7 million. This means the final cost could increase based on the performance of ParisSportifs.com over the next year.
So, what makes ParisSportifs.com such a desirable asset? It’s a top sports betting platform in France, drawing a substantial portion of its traffic organically through search engines, Twitter, and its popular YouTube channel. Presently, the site is generating approximately €500,000 in revenue each quarter.
Henrik Persson Ekdahl, Catena Media’s current CEO, is clearly enthusiastic about the acquisition, remarking, “I am thrilled that we are now penetrating the regulated French market through the strategic purchase of ParisSportifs.com.” This move follows closely on the heels of Catena’s acquisition of the German affiliate site, BrokerDeal.de, for €3.6 million – a clear indication of their ambition to dominate the German affiliate market as well.
Ekdahl summarized it aptly, adding, “This aligns perfectly with our expansion strategy and strengthens our leading position in Europe.” It appears Catena Media is playing to win, and they’re not hesitant to make bold decisions to reach their objectives.
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