Catena Media has announced the completion of a €9.5 million deal to acquire German sports betting and financial services affiliate Dreamworx Online. €5.5 million will be paid in cash, with the other €4 million issued in newly issued Catena shares.
Updating the market, the Stockholm-listed industry affiliate marketing network has agreed to acquire all Dreamworx’s related assets and portals active within German sports betting, casino and financial services.
Dreamworx operates in the sports, casino and financial services market, operating websites such as Sportwettenanbieter.com, Fussballwetten.info and DeutscheFXBroker.de.
Catena expects the acquired assets to generate around €600,000 in quarterly sales, with an operating margin of approximately 80%.
Updating investors, Catena’s acting CEO Henrik Persson Ekdahl explained that Dreamworx’s digital assets would be managed by the recently acquired Baybets Malta team, which will move to optimise the future earnings potential of Catena’s expanded german market portfolio.
Persson Ekdahl added: “The assets of Dreamworx will strengthen our position as the leading affiliate in Germany. This will place us in the top position, short-term for the World Cup 2018 as well as long-term.”
Catena stated that they expect the deal to be finalised by the end of the month.