Catena Media purchases leading sports betting site ParisSportifs.com for EUR 8.2M, enters French market
Catena Media, a Stockholm, Sweden-based company managing an affiliate marketing network announced the acquisition of French sports betting site ParisSportifs.com.
The initial purchase price amounts to an up-front payment of EUR 8.2M ($10.12M), of which EUR 6.2 million will be paid in cash, and the remaining EUR 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.
ParisSportifs.com is a leading sports betting site in France and the company generates strong traffic numbers, primarily from search engines and its Twitter and Youtube channels. The acquired assets currently generate quarterly sales of about EUR 500.000.