Affiliate operator Net Gaming Europe AB has expanded its horizons with the ‘strategic acquisition’ of affiliate assets, primarily in the DACH region (Germany, Austria and Switzerland) from Webwiser Gmbh.
Known for its comparison websites within iGaming, Net Gaming announced a letter of intent back on 19 April, and has now followed through on the acquisition.
The firm justified the move by declaring that the operations show strong growth and are currently generating quarterly sales of approximately EUR 200,000, with an operating margin of approximately 75%. About 75% of the revenues are generated via revenue sharing.
Marcus Teilman, CEO of Net Gaming, explained: “The acquisition strengthens our position in the DACH region. We have identified the DACH region as one of the geographical markets with the highest growth potential in the long run. This transaction will give us further opportunities to grow our existing operations in the region, and also expand these assets to new markets.
“Considering the fact the founders will remain and continue to work with the assets for Net Gaming feels truly great, since we have got a great first impression of the said founders.”
André Boeck, Founder and CEO of Webwiser, which was advised by RB Capital on the transaction, added: “We are truly excited at finding the right buyer for our business, and are looking forward to work with the team at Net Gaming to take the websites to the next level. With its proven track record and a group of savvy people around, Net Gaming takes a great leap forward to become a major player in performance marketing on the DACH market.”
The initial purchase consideration of EUR 2.29 million will be settled with existing cash resources. Payment of a maximum additional consideration of EUR 1.25 million may also be required.
