Net Gaming signs letter of intent to acquire assets in the DACH region
Net Gaming has signed a letter of intent to acquire affiliate assets, primarily in the DACH region (Germany, Austria and Switzerland).
The operations show strong growth and are currently expected to generate quarterly sales of approximately EUR 200,000, with an operating margin of approximately 75%. About 75% of the revenues are generated via revenue sharing.
“I am very pleased that we have the opportunity to strengthen our position in the DACH region. This is an exciting market which we consider to have good growth opportunities ahead. In addition, completion of this transaction will give us further opportunities to grow our existing operations in the region, and expand these assets to other markets,” comments Marcus Teilman, CEO of Net Gaming.
The acquisition of the operations is expected to take place after completion of a due diligence process. The initial purchase consideration of EUR 2.29 million will be settled with existing cash resources. Payment of a maximum additional consideration of EUR 1.25 million may also be required. The additional consideration is based on the outcome of the acquired assets’ EBITA for the 12 months following completion of the transaction. For the full additional consideration of EUR 1.25 million to apply, the outcome of the acquired assets’ EBITA is required to be at least EUR 1.0 million over the next 12 months.
For further information, please contact:
Marcus Teilman, President and CEO
+356 9936 7352
Net Gaming Europe AB (publ)
Telephone: +46 8-410 380 44
The information in this press release is information that Net Gaming Europe AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation and, where applicable, the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was provided by the contact person above for publication on 19 April 2018 at 14.20 CET.
About Net Gaming
Net Gaming owns, operates and develops high-quality online comparison sites for the purpose of channelling user traffic to the Company’s customers – primarily iGaming operators. Within the Group, approximately 130 comparison sites are operated in 30 countries. Net Gaming generates valuable user traffic through the sites, mainly to global iGaming operators. The Company was founded in 2005, has over 80 employees and is headquartered in Malta. The share (NETG) is listed on AktieTorget.