XLMedia, an industry affiliate marketing publisher, has appointed Akur Capital as corporate finance advisor, with the task of leading the sale of its majority Finnish market-facing casino assets, and further publishing websites.
The Finnish sell-off is part of the restructuring plan for XLMedia, led by new CEO Stuart Simms, in which the London AIM company aims to ‘refine its publishing portfolio, refocusing on regulated high-potential markets’ like the US.
XLMedia updating investors said they will use the proceeds generated from disposals to accelerate the new strategy of the publisher to acquire and develop ‘content-rich’ sites for regulated markets.
XLMedia highlighted the new strategic goals of the company in its corporate filing, with the objective of ‘consolidating publishing assets,’ focusing on developing premium sites supported by better technologies, stronger partnerships, deeper content and clearer brand affiliation.
XLMedia’s new corporate strategy identifies North America as the target market for the firm, where the company has an established presence in the segment of personal finance publishing. The company will look to substantially increase investment in market opportunities for US Sports.
Simms commented: “XLMedia has set out a clear transformation strategy to deliver the next phase of growth. We have already made significant progress with reshaping the organisation, reducing our cost base, strengthening the leadership team and building our core people skills and technological expertise.
“The sale of our Finnish-facing casino assets will reduce the reliance on unregulated markets and accelerate the delivery of our strategy, providing additional capital for the acquisition of attractive assets in regulated and high growth markets, such as the burgeoning US sports market.”