Catena Media pays EUR 16M for ASAP ITALIA, enters the Italian sports betting market.
Catena Media, a Stockholm, Sweden-based holding group managing a lead generation network, announced the acquisition of ASAP ITALIA, an Italy-based market-leading sports news and lead-generator.
The acquisition was made for EUR 16M ($18.7M), an up-front cash payment of EUR 12,5 million plus a EUR 3,5 million deferred consideration in cash after 12 months.
Catena Media, led by CEO Per Hellberg, will thusly adds the country’s largest lead generator to itss portfolio and entails the company taking a major stake in the Italian market.
ASAP ITALIA, founded in 2010 and generating revenues of about EUR 3.6M per year, owns the premier lead generation site for sports in Italy with predominantly organic traffic and a very strong SEO rating. Its principal focus is on sports and the company’s growth opportunities are vast. ASAP ITALIA , and almost 100 percent of its customers derive from the regulated Italian market.
The deal also involves an earn-out of a maximum EUR 6 million, based on revenue performance over a period of one year. With a maximum earn-out payment of EUR 6 million, the sellers would need to generate revenue growth of about 50 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.