“I am very proud that we are now entering the regulated French market through this strategic acquisition of ParisSportifs. This is in line with our growth strategy and strengthens our leading position in Europe. It’s also a strategic move for us, bringing growth in sports betting with the FIFA World Cup just around the corner,” says Henrik Persson Ekdahl, acting CEO of catena Media.
The initial purchase price amounts to an up-front payment of €8.2 million, of which €6.2 million will be paid in cash, and the remaining €2.0 million in newly issued shares in Catena Media plc.
There is also an earn-out of a maximum EUR 5.7 million, based on revenue performance over a period of one year. In a reasonable anticipated scenario, with a total earn-out payment of €3.2 million, the sellers would need to generate revenue growth of between 40 and 60 percent during the earn-out period of one year. Up to 50 percent of the earn-out may be paid with shares in Catena Media plc.
The assets will be consolidated in Catena Media during April 2018.