Raketech continues US expansion by acquiring ATS tipster communities 

 Raketech Plc has agreed to acquire the assets of US sports tipster group ATS Consultants for an agreed purchase price of $15.5 million (€13.5m).

The deal will see Raketech expand its North American publishing portfolio to include the tipster communities of Winnersandwhiners.com, Statsalt.com and Pickpapa.com.

Securing its latest US transaction, Raketech confirmed that it would pay an upfront $12 million cash transaction, combined with an additional $1 million settlement distributed over six months post-deal closure.

The remaining fee will be settled through the issuance of new Raketech shares amounting to $2.5 million, with additional earnout payments based on performance measures 36 months post-closing.

The transaction is valued at a multiple of ATS 6x EBITDA and 2.5x revenues for the last 12 months. As a result, Raketech expects its North American revenues to reach up to 20% of the group’s total already during Q1 2022.

Raketech underscored the importance of its latest deal, as its publishing network will benefit from incorporating 20 new employees covering US sports from ATS office in Baltimore Maryland.  

Raketech CEO Oskar Mühlbach said: “This market is of specific interest to us as it is expected to grow substantially within the next years. And I believe that adding Raketech’s commercials and operational ability to the acquired assets is a great way to maximize this opportunity.

“I am also excited to have the talented ATS team on board, and I am looking forward to combining our commercial models and to share technology and know-how between us. 

“Furthermore, as Raketech already offers sports insights and betting tips in the US, there are obvious opportunities to cross-promote and collaborate across our ecosystem of assets to provide even better service to the end user as well as even better marketing opportunities for our clients, the operators.”

Raketech has continued to build its North American sports portfolio following this summer’s acquisition of Picksandparlays.net – the flagship website of P&P Vegas.

 The acquisition will be closed no later than 15 December 2021 and be settled using Raketech’s current credit facility guaranteed by Finnish investment bank Avida Finans.

0
Alex Leese, Pronet Gaming: Making up for lost time in Brazil Esports Technologies files MOBAs wagering IP

No Comments

No comments yet

Leave a Reply

Your email address will not be published.