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.
“We are incredibly proud of acquiring AskGamblers which is one of the best brands in the affiliate market and whose operations are a perfect fit for Catena Media. AskGamblers is an extremely important site for casino operators and, through its stringent requirements for certified casinos, contributes to creating a better iGaming industry. The transaction is the largest in Catena Media’s history and in line with our strategy of growth through acquisitions in a fragmented market. In parallel, we are strengthening our team with a number of highly skilled individuals and this transaction provides us with the opportunity to build the office in Serbia into an extremely cost-efficient development centre for Catena Media,” says Robert Andersson, CEO of Catena Media in a statement.
“Catena Media has grown into one of the most interesting actors in our industry and it feels particularly exciting that AskGamblers will now enter the next phase together with them,” said Igor Salindrija, founder and previous owner of AskGamblers.