Catena Media is acquiring sports affiliate rosters for $ 39.6 million
A company that generates online leads Catena Media announced today that it has acquired an online sports association Lineups.com in order to strengthen its position in the American sports betting arena.
Payment details
Catena Media has revealed a total of $ 39.6 million will be paid in cash in 3 installments spread over the period 2 years and the next half a million payable upon meeting certain requirements within 3 years from the date of the transaction.
"The acquisition of Lineups.com strengthens Catena Media's leading position in the growing US betting market with an add-on product that fits perfectly with our existing US portfolio."
Michael Daly, CEO of Catena Media
Catena will pay you the initial one USD 25 million
after closing the transaction, the next ones $ 9.6 million on the first anniversary of the transaction, and the last USD 5 million the second anniversary of the closing date.
“This gives us a second, even stronger, national sports betting site, alongside thelines.com. This will allow us to gain a larger market share in North America as well as take advantage of common tools on many Catena Media sites. "
Michael Daly, CEO of Catena Media
Condition $ 0.5 million will be paid in the event that the State of New York allows sports betting within 3 years from the transaction, the closing date and the specified revenue threshold has been reached.
Positive effect on EBITDA
Catena has announced there are no material closing conditions and the Lineups.com acquisition is expected to have a direct positive impact on media profits before interest, taxes, depreciation (EBITDA) as at the consolidation date, May 4, 2021.
A specialist in analytics, betting predictions and tools that Lineups.com provides bettors with useful information on starting line-ups and line-ups for matches from professional sports leagues in the US, including National Football League (NFL) , National Basketball Association (NBA) , Major League Baseball (MLB) and National Hockey League (NHL) and also for fantasy sports.
“Sam Shefrin, the seller and founder of Lineups.com, will bring industry and technology attention to the Catena Media team and will work with us in the near future as an exclusive business consultant. "
Michael Daly, CEO of Catena Media
In addition to starting lineups, an online sports association that boasts a strong presence in regulated markets in most US jurisdictions, including recently launched markets in Virginia and Michigan , takes into account all kinds of information about players and teams, such as injuries, news, results and trends.
In January based in Malta Catena Media published its financial results for the full year 2020, posting record revenues from its US operations in December, which were 30% its annual sum.