After acquiring all assets of performance marketing firm Lead Republik for € 1,4 m, Raketech has improved its offering in New Zealand and Canada.
Lauding the achievement of a crucial milestone in the ongoing global growth of the online partner and content marketing business, the agreement also includes the prospect of future earnout rewards dependent on certain performance measures.
Lead Republik is a Maltese licenced media company with worldwide sales, but mostly from Australia, New Zealand and Germany.
As a result of the acquisition, revenues from Raketech outside the Nordics are expected to reach approximately 20 percent of total revenues from the company. The acquired process is immediately to become an integrated part of Raketech.
Raketech chief executive Oskar Mühlbach commented: “This acquisition is ticking a lot of strategic boxes, as it gives us further footprint in markets important for our key partners at the same time as it contributes with technical know-how in form of a high qualitative technical platform together within competence within conversion optimisation and paid media.
“We further see strong synergies when combining Lead Republik’s offering with our know-how, within organic search. I am furthermore really glad to have the brilliant Lead Republik team on board and to be able to conclude that the sellers will continue their involvement for the upcoming 12 months in order to secure a smooth handover and accelerate further expansion into new markets.”
Recently, Raketech released its latest financial report, with reductions in sales felt over the final quarter and full year of 2019. A 23.3% decline in Q4 to € 5.8 million (2018: € 7.6 million) nudged its FY results to € 23.9 million, reflecting a 6.5% decrease from € 25.6 million.
At the time of the launch, Mühlbach said: “Looking back at 2019 it can easily be described as an eventful and challenging time. Not only for Raketech but also for the affiliation industry and the igaming sector as a whole.
“The Swedish gaming market has been particularly tough which with Raketech’s heavy Swedish presence added to our challenge. On a positive note, 2019 was also a year where we made good progress in strengthening our product mix, expanding our geographical footprint as well as our operational capacity.”