Catena Media agrees on pre-payment of earn-out in relation to the acquisition of the affiliate related assets in Beyondbits Media Ltd.
On 9th November 2017, Catena Media plc announced that it had acquired all affiliate related assets in the Malta based company Beyondbits Media Ltd, including Aktiendepot.com and Qomparo.de, among other sites.
Under the acquisition agreement, the sellers had the right to an earn-out payment of a maximum of EUR 5,000,000 after 12 months. The Company has now agreed with the sellers to make a final pre-payment at the lowest possible earn-out. Under the settlement agreement Catena Media will pay a total amount of EUR 2,000,000 following which the relationship with Beyondbits will be finally settled.
The Beyondbits assets is performing strongly, and was on route to reach the maximum earn-out payment of EUR 5,000,000. However, the sellers wants to pursue other opportunities, and therefore asked for an early release of their obligations. Catena Media welcomes the settlement, has a strong team ready to take over the assets, and believes this development will be advantageous for the continued performance.
For further information, please contact:
Henrik Persson Ekdahl, Acting CEO, Catena Media plc
Phone: +46 706 91 43 43, E-mail: henrik.persson@catenamedia.com
Åsa Hillsten, Head of IR & Communications, Catena Media plc
Phone: +46 700 81 81 17, E-mail: asa.hillsten@catenamedia.com
The information was submitted for publication, through the agency of the contact persons set out above, on 6 March 2018 at 14:30 CET.
About Catena Media
Catena Media plc is an online performance marketing company that has established a leading position through strong organic growth and acquisitions. The business was started in 2012 and the group has approximately 282 employees in the US, Australia, Japan, Serbia, UK, Sweden, and Malta, where the Head Office is situated. In 2017, revenues reached EUR 67,6 million. The company is listed on Nasdaq Stockholm Mid Cap. Further information is available at www.catenamedia.com