Stockholm-listed performance marketing specialist Catena Media has acquired UK-facing horse race betting affiliate GG.co.uk for £2m.
Catena Media said that the deal strengthens the company’s position in the UK and will further enhance its other UK-based assets, which include BettingPro.com.
“Catena Media has a strong strategy for growth and an outspoken ambition to break into new online services,” said chief executive Henrik Persson Ekdahl. “It is our firm belief that this small yet strategic and very well-known site enjoys vast opportunities for growth. Catena Media will be the partner that delivers on these opportunities.”
The company explained that GG.co.uk is a strong and well-respected horse racing brand with excellent SEO rankings, with a wide product offering and content.
Catena Media will make an upfront, cash-only payment of £2m to acquire the assets, which currently generate quarterly sales of approximately £150,000. The assets will be consolidated into Catena Media by June.
Shares in Catena Media plc (STO:CTM) were trading up 3.31 per cent at SEK121.90 per share in Stockholm Thursday morning.