Catena Expands With Sports Affiliate Baybets Purchase

Published Tuesday, December 05, 2017 - Online-Casinos.com
Catena Expands With Sports Affiliate Baybets Purchase

Watching the expansion of online gambling is a fascinating look at the dynamics of internet commerce. The recent acquisition of German focused sports affiliate Baybets Ltd. by Stockholm-listed industry affiliate marketing network Catena Media is a prime example of the ever changing gambling market.

The Baybets acquisition is part of Catena’s European market expansion plan, an increased focus on services and coverage for the German facing sports betting market.

Catena Media has agreed to an initial payment of €26.5 million for the Baybets’ 50 website presence. An additional €65 million in ‘earn-out payments’ based on the performance of acquired assets over an initial 24-month period is also part of the agreement.

Chief Executive Officer at Baybets Jan Steffen, commented on the arrangements,  “I would like to thank all the people that have been involved in the company’s journey so far, bringing us to where we are today. We now look forward reaching new heights together with Catena Media on a long-term basis, both from an operational perspective and as shareholders. We are excited about all the upcoming opportunities that a-wait”

Present acting Chief Executive Officer for Catena Media Henrik Persson Ekdahl,  spoke about the acquisition deal, “We are proud to announce the largest acquisition made by Catena Media since company inception, making us one of the strongest sports betting affiliate players on the market. We have set ambitious financial targets for the company, and the acquisition is fully in line with those targets. We are excited about being able to complete this deal, given the upcoming sports year of 2018, which will have both the Winter Olympics and the World Cup. ”

Catena’s sports betting division based in Malta will provide the integration for the takeover that will engage the 23 member team from Baybets.

Last May 2017 Catena strengthened its position in the U.K. by acquiring Online Media, a UK based fast-growing sports betting affiliate.

 

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