Catena Media acquires Squawka.com and related assets from Squawka Ltd.
Catena Media plc (“Catena Media”) has acquired Squawka.com and related assets from Squawka Ltd (“Squawka”). Squawka is a high-volume traffic global football news site with a Daily Fantasy Sports (DFS) section in beta version.
The main site currently attracts ca 4 million users per month, and has around 800 000 followers on Twitter. The purchase price amounts to a one-time upfront payment of GBP 1 million (approximately EUR 1.1 million) to be paid through cash consideration. The acquisition is expected to generate annual sales of approximately EUR 2 million with an estimated 60% margin. Catena Media will add its knowledge in building successful affiliate sites to the high-volume, quality Squawka site.
Background and rationale
Through the acquisition of the assets in Squawka, Catena Media will further strengthen its offering within the sports betting segment, particularly in the football vertical. Integration will commence immediately upon completion of the transaction and it includes a team of 4 employees that will relocate to Catena Media’s London office and form part of Catena Media’s Sports division. Squawka and its related sites currently only generate revenues through banner advertising.
“We see potential for Squawka as a high-volume traffic site with a global audience, to which we look forward to implementing an affiliation business model. The company has invested in automatic data feeds for their user-friendly graphical interfaces, which is something we aim to integrate into other Catena Media products. Squawka will sit alongside our existing brands, increasing our coverage in the football vertical while entering the upcoming sports year”, says Henrik Persson Ekdahl, Acting CEO, Catena Media.
Terms and description of the transaction
The transfer of all Squawka’s assets and payment of consideration is scheduled to take place mid-December. The purchase price amounts to an upfront payment of GBP 1 million (approximately EUR 1.1 million), which is being paid as a cash consideration in conjunction with the transfer of the assets.
About Squawka
UK-based Squawka was founded in 2012 and has built up a strong brand with high preference in its target group. Squawka has invested time and resources in the UX/code for presenting statistics and offers a user friendly interface. Revenue is currently generated solely through the sale of banner advertising on sites including www.squawka.com and the DFS site, www.matchboss.com. The existing team consists of 4 employees based in the UK.
For further information, please contact:
Henrik Persson Ekdahl, Acting CEO
Phone: +46 706 91 43 43
E-mail: henrik.persson@catenamedia.com
www.catenamedia.com
The information was submitted for publication on December 14, 2017 at 15:00 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 245 employees in the US, Australia, Japan, Serbia, UK, and Malta, where the Head Office is situated. In 2016, revenues reached approximately EUR 40 million. The company is listed on Nasdaq Stockholm Mid Cap. Further information is available at www.catenamedia.com