A prominent online gaming company, Catena Media, has recently made a significant stride in the North American market. They have acquired the regional assets of i15 Media for a substantial sum of $45 million. This strategic maneuver signals Catena Media’s strong intentions to broaden its footprint in the United States, particularly with the imminent start of the football season.
The agreement encompasses more than 100 websites and domain names, many of which are strategically tailored towards states experiencing a surge in sports wagering. Examples include Michigan, with its specialized platform, Michigansharp.com, and New York, poised for a monumental season with NYSportsDay.com. Furthermore, the acquisition includes prominent brands like bonus.com and gamblingonline.com, boasting a national presence.
Catena Media’s Chief Executive Officer, Michael Daly, expressed enthusiasm about this purchase, characterizing it as an “impetus” to their already remarkable growth in North America. He views the integration of i15’s established brands and their penetration into burgeoning markets as a means to solidify Catena Media’s standing as a frontrunner in the US.
Financial projections also paint a positive picture. Catena Media anticipates this acquisition to yield immediate favorable effects on their earnings, with the acquired assets projected to generate an impressive profit margin of at least 70%.
Beyond the financial gains, Daly emphasized the significance of welcoming i15 Media’s founders as consultants, leveraging their knowledge to support Catena Media’s future endeavors.
This calculated move, with a considerable portion of the $45 million paid initially, emphasizes Catena Media’s dedication to becoming a major player in the rapidly growing US online gaming sector.
The media firm, Catena Media, is making another acquisition! The price tag is $25 million, with an initial payment of $5 million and the remainder paid over time. A significant portion, $12.5 million, will be covered by issuing 2,207,357 shares of the company’s stock. This strategy appears to be a trend for them, as they recently completed the purchase of Lineups.com and extended an agreement with SportsDataIO. Their expansion efforts are clearly a major priority!
