Catena triggers US portfolio expansion acquiring i15 Media
Catena Media has expanded its North American inventory by a further 100 websites and domains, announcing the outright acquisition of assets held by i15 Media LLC.
The Stockholm affiliate marketing network confirmed that it had agreed a total purchase price of $45 million for i15 Media full inventory – ‘ of which $12.5 million will be paid with 2,207,357 issued in new Catena Media shares.
Significantly bolstering its US market portfolio, Catena will secure the ‘nationally-ranked sites’ of bonus.com and gamblingonline.com, combined with the ‘state focused’ assets of Michigansharp.com and soon to be launched NYSportsDay.com.
i15 Media portfolio is reported to have generated approximately $8 million in the 12 months trading to 31 July 2021 – registering the 67% increase in Q1 2021 coinciding with peak North American sports season.
Updating stakeholders, Catena CEO Michael Daly branded the deal as transformative for the firm’s US growth strategy – maintaining momentum in the US markets that had grown ”121% in the first half of 2021 and accounted for 49% of total group revenue”.
“The addition of i15 Media’s online sports betting and casino assets to our North American portfolio will accelerate our already rapidly expanding business there,” Daly commented
“In addition to i15’s strong national and state brands generating revenues in current markets, the additional coverage for upcoming states will further cement Catena Media’s leadership position in the United States.”
“I am also excited that i15 Media’s founder and owner will join us as a consultant for the next few years. He will provide valuable support for our internal team as we pursue our roadmap.”