Malta-based online lead generation company Catena Media plc has acquired 100 percent of the shares in US sports affiliation company Lineups.com for $39.6m (£28.5m), strengthening its position in the growing US betting market.
The details disclosed
Since Tuesday, Catena Media has officially taken over Lineups.com, an online sports affiliation company specialising in analytics, betting predictions and tools.
Over the last fiscal year, Lineups.com made $7.5m in profits from sales, explaining that the total price of the takeover amounted to $39.6m. The deal comprises of three cash instalments over a two-year period. There will be a payment of $25 million upfront, followed by another one a year from the purchase ($9.6 m), and a final $5 million on the second-year anniversary.
A clause also states that should New York State expand their sports wagering market as well as certain requirements be fulfilled within three years of the transaction date, Catena Media will owe an additional $500,000 to Lineups.com.
In the press release, Michael Daly, CEO Catena Media, commented: “The acquisition of Lineups.com strengthens Catena Media’s leading position in the growing US betting market with a complementary product that fits perfectly into our existing US portfolio […] This will allow us to capture more market share across North America”.
Expands its US market presence
With this acquisition, the Malta-based company send a clear message about its intention to capitalise on the US sports gambling expansion as more states regulate the pastime.
As indicated by its name, Lineups.com specialises in providing both confirmed and projected starting lineups and rosters for NFL, NBA, MLB, and NHL teams. The website considers all kinds of available player and team information, including injuries, news, performance, and trends.
“Sam Shefrin, the seller and founder of Lineups.com, will bring his industry and technology focus to the Catena Media team and will work with us for the near future as an exclusive consultant to the business”, said Daly.