Catena Media targets expansion after AskGamblers acquisition

Catena Media targets expansion after AskGamblers acquisition

Monday, April 4, 2016 Totally Gaming
Andersson highlights strategy behind takeover deal

Robert Andersson, chief executive of Catena Media, has said that the online lead generation company’s acquisition of affiliate website AskGamblers.com, a deal that represents the largest in its history, will allow the firm to boost its workforce and operations.

Under the agreement, worth €15m ($17.1m), Catena will strengthen and expand its own team with the addition of AskGamblers’ workforce, which comprises 30 members of staff. All AskGamblers employees will be retained as part of the deal.

Serbia-based AskGamblers operates a web portal that offers player reviews and rankings of online casinos across the gambling sector, as well as giving users the opportunity to resolve disputes with online operators.

“AskGamblers is an extremely important site for casino operators and, through its stringent requirements for certified casinos, contributes to creating a better iGaming industry,” 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 centre for Catena Media.”

The agreement, Catena’s third strategic acquisition of the year, will feature three separate payments. An initial payment of €3m upon the completion of the deal will be followed up with a further €8.25m when all assets have been transferred to Catena. A final payment of €3.75m is due six months after the completion of the acquisition. 

Igor Salindrija, founder and previous owner of AskGamblers, added: “Catena Media has grown into one of the most interesting actors in our industry and it feels particularly exciting that AskGamblers will now enter the next phase together with them.”

TotallyGaming.com says:

Catena Media is a bold and ambitious partner for AskGamblers.com. The company states on its website that it is targeting “scalable” and “rapid” growth “both organically and via acquisitions”. Lead generation and comparison websites are increasingly big business in the gambling industry, and the value of this takeover underlines this fact.

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