A prominent online gaming company, Catena Media, recently acquired the North American holdings of i15 Media in a transaction valued at $45 million. This calculated maneuver underscores Catena’s ambition to solidify and broaden its already substantial footprint within the North American market.
What exactly did Catena receive for its investment? Imagine a collection exceeding 100 websites and domain names, strategically targeting regions where sports wagering is thriving, such as Michigan (where Michigansharp.com operates). However, their focus extends beyond established territories. They are also gaining traction in emerging markets like New York with NYSportsDay.com. Furthermore, let’s not overlook nationally recognized platforms such as bonus.com and gamblingonline.com.
This is a significant development, and Michael Daly, Catena Media’s Chief Executive Officer, recognizes its importance. “Integrating i15 Media’s online sports betting and casino properties into our North American portfolio will accelerate our growth path,” he stated, emphasizing the immediate positive effect this will have on their financial performance. They anticipate a substantial profit margin – a minimum of 70% – from these newly acquired assets.
However, the acquisition encompasses more than just digital platforms. Catena is also gaining invaluable industry insights. The individuals who established i15 Media will remain involved as consultants, contributing their expertise to Catena’s team.
This strategic purchase clearly indicates that Catena Media is making a substantial commitment to the future of online gaming in North America.
Catena Media has struck a deal to purchase an undisclosed business for $25 million. The agreement stipulates an initial payment of $5 million in cash, with the balance of $20 million to be disbursed in three subsequent installments.
In order to finance a portion of the purchase, Catena Media plans to issue 2,207,357 new shares, aiming to raise $12.5 million. The finalization of this transaction is anticipated to occur shortly after the acquisition is concluded.
This latest move follows Catena’s recent procurement of Lineups.com for $3.96 million in May and the extension of a decade-long partnership with SportsDataIO in August, underscoring the company’s strategic emphasis on strengthening its lead generation capacity.
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