Catena Media plc has announced that it has acquired all affiliate-related assets in the Malta-based company Beyondbits Media Ltd, including Aktiendepot.com and Qomparo.de, among other sites.
Under the acquisition agreement, the sellers had the right to an earn-out payment of a maximum of €5 million after 12 months.
The company has now agreed with the sellers to make a final pre-payment at the lowest possible earn-out. Under the settlement agreement Catena will pay a total amount of €2 million following which the relationship with Beyondbits will be finally settled.
The Beyondbits assets are performing strongly, and were en route to reaching the maximum earn-out payment of €5 million. However, the sellers wants to pursue other opportunities, and therefore asked for an early release of their obligations.
Catena welcomes the settlement, has a strong team ready to take over the assets, and believes this development will be advantageous for the continued performance.
Catena Media plc is an online performance marketing company that has established a leading position through strong organic growth and acquisitions. The business was started in 2012 and the group has approximately 282 employees in the US, Australia, Japan, Serbia, UK, Sweden, and Malta, where the Head Office is situated. In 2017, revenues reached €67.6 million. The company is listed on Nasdaq Stockholm Mid Cap.