Catena Media acquires AskGamblers2016-04-04 10:35:25
Today, Catena Media announced that it has acquired AskGamblers. The purchase price is €15m and will be paid in three instalments. The first payment of €3m will change hands at the completion of the transaction, followed by €8.25m when all assets have been transferred to Catena and another €3.75m will be paid to AskGamblers six months after the acquisition has been completed.
Catena’s purchase of the site, which provides player reviews, ranks online casinos and has a thriving community, which helps players resolve disputes with online casinos, is less surprising, given that AskGamblers’ sales surpassed its profit margins by 80 % in 2016, reaching approximately €810.000.
The company currently employs 30 staff. Catena Media promises to offer employment to all members, of whom the majority sits in Serbia, where the development centre is located. This pushes Catena Media’s number of employees beyond a hundred.