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Gambling marketing group Catena has announced that they've entered a purchase agreement with Dreamworx Online, which operates in the same vertical sector.
Under the terms of the deal, Catena will pay €9.5 million for the company. Catena will put up €5.5 million in cash, with the remaining €4 million being paid out in shares in Catena. The company thinks that it's new purchase will generate €600,000 quarterly, with a very high operating margin of 80%. Dreamworx is a marketing affiliate site that runs various German language sportsbetting and casino sites.
Dreamworx will have its assets folded into the Catena subsidiary Baybets, which is also a recent acquisition.
Commenting on the deal Catena CEO Henrik Persson Ekdahl said, "The assets of Dreamworx will strengthen our position as the leading affiliate in Germany. This will place us in the top position, short-term for the Fifa World Cup 2018 as well as long-term."
The deal is expected to be wrapped up sometime in February.