Raketech Plc has agreed to buy QM Media for €16 million in order to expand its sports media inventory across its publishing network.
Raketech said Thursday afternoon that it had reached an agreement to buy QM Media and its P&P Vegas North American subsidiary altogether.
Raketech will pay €9 million in cash up front as part of the deal, with the remainder of the valuation paid as a share settlement.
Raketech informed stakeholders that it has seen tremendous prospects in the acquisition, which will expand the company’s sports portfolio across North America and Europe.
Raketech Network will acquire the key QM media assets of Onlinecricketbetting.net and Picksandparlays.net as part of the deal.
Largest acquisition to date
Raketech’s CEO, Oskar Mühlbach, stated: “I’m satisfied that we now formally have closed this important acquisition, the largest to date for Raketech, and to be reinforced with a network of sports betting experts and profitable assets with significant grow potential.
“I am also very happy to welcome our new colleagues, together we will continue to work on our growth strategy — to increase our market share through product diversification, geographical expansion, increased monetisation through R&D as well as M&A, with a specific focus on the US.”
Raketech agreed to terms on a €15 million credit facility underwritten by Finnish bank Avida Finans during H2 trade to assist finance its affiliate marketing network’s M&A expansion.
Raketech’s leadership outlined its aims for acquiring and integrating earnings-effective assets in underserved regions, with a focus on North American expansion, following the company’s positive interim results.