Online performance marketing company, Catena Media plc, is acquiring gg.co.uk a site in the UK focusing on horse racing. Through the acquisition, the firm aims to strengthen its position in the UK – entering a new territory within sports betting.
”Catena Media has a strong strategy for growth and an outspoken ambition to break into new online services,” says Henrik Persson Ekdahl, CEO of Catena Media.
GG.co.uk is a strong and well-respected horse racing brand, with a wide product offering and Catena Media hope the acquisition will compliment its other UK-based assets, such as BettingPro.com.
The initial purchase price, payable in conjunction with the transfer of the assets, amounts to an upfront, cash-only payment of GBP 2 million.
The acquired asset currently generates quarterly sales of about GBP 150.000 per quarter.
“It is our firm belief that this small yet strategic and very well-known site enjoys vast opportunities for growth. Catena Media will be the partner that delivers on these opportunities,” added Persson Ekdahl.
The assets will be consolidated into Catena Media by June 2018.