Catena Media continues expansion with latest Italian job

Catena Media continues expansion with latest Italian job

Tuesday, July 3, 2018 Posted by Joseph Streeter
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The firm described the deal as a “strong acquisition”

Catena Media has grown into the Italian online betting space with the acquisition of sports publisher ASAP ITALIA.

The move comes as Catena continues to utilise a strong acquisition strategy, in order to grow its European footprint.

Securing the acquisition, Catena 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).

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%.

A spokesperson for Catena Media told TotallyGaming.com: “The Italian market was one of the first European market to put in place an online gambling licensing system for everyone to be able to apply. Since its opening in 2010 is has annually grown in a steady and good pace.

“Catena Media didn’t have a lot of exposure to the Italian market prior to the asap purchase but as part of our strategy is to grow in regulated or locally taxed markets, Italy has been on our radar for a long time.

"We had the pleasure of following the asap team for almost a year prior to completing the purchase and we have been impressed by their methodical approach on how to run a sports business in Italy. Now there are another 80 licenses being granted in the market, so we foresee the market to continue to grow as it has been growing the past couple of years.”

The statement continued: “We believe our product superscommese is the superior sport news product in Italy. With a team of 25 people strong we offer everything from daily news, betting tips, customers service towards the operators. We have built long standing relationships both with our clients and the end users.”

Totally Gaming says: The Italian market was one of the first regulated European markets and since its formation, ASAP ITALIA has maintained a commendably strong level of compliance. With the help of Catena’s SEO expertise, ASAP can become a leading publisher in the Italian sports betting ecosystem.

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