Raketech acquires Japan’s Casumba Media
Published 2nd September 2019
Raketech has purchased all of the outstanding shares in Casumba for an upfront payment of €2m (£1.8m/$2.2m), with the possibility of additional earn-out payments based on certain performance measures.
Casumba’s founders will continue to be involved in the operations of the media company and use their experience to support Raketech launch products in Japan and possibly other Asian markets.
“This is another milestone in Raketech’s history and fully in line with our strategy to expand into new markets,” Raketech’s chief executive, Michael Holmberg, said.
“We see many operators looking at Japan and this acquisition is an opportunity for Raketech to be part in an emerging market where our customers want to grow.
“We look forward to working together with the Casumba team to develop the products and in the long run launch new products together.”
The acquisition will help to increase Raketech’s revenues outside the Nordics to approximately 10% of total revenue.