Catena Media grows US portfolio with acquisition

Catena Media grows US portfolio with acquisition

Affiliate group Catena Media has announced the acquisition of US-facing online sports affiliation business for $39.6m.

Published 4th May 2021

The purchase price is payable in cash in three instalments over a two-year period, including an up-front payment of $25.0m on closing, $9.6m one year after the deal goes through and $5.0m two years after the acquisition completes.

An additional contingent cash payment of $500,000 will also be due if certain requirements are fulfilled within three years of the transaction date, including if New York legalizes sports betting during that period. specialises in analytics, betting predictions and tools, providing confirmed and projected starting line-ups and rosters for major US sports leagues such as the National Football League, National Basketball Association, Major League Baseball and the National Hockey League.

For the 12 months to April 30, 2021, reported $7.5m in sales, with its sales in the first quarter of 2021 equating to approximately 10% of Catena’s total revenue.

Catena added that the acquisition will have a direct positive effect on its earnings before interest, tax, depreciation and amortization (EBITDA) from today (May 4).

Read the full story on iGB North America.