Raketech expands its online sports listing services into Finland via acquisition of TVmatsit.com
Raketech, a leading online affiliate and content marketing company, continues to expand its offering of online sports TV listing platforms by acquiring Finland’s leading sports listing website TVmatsit.com.
TVmatsit.com is a product that has clear synergies with Raketech's existing family of online media guide websites and mobile apps. TVmatsit.com is a highly popular platform that generates traffic organically by delivering a complete guide to sports broadcasting in Finland and through a successful media buying strategy. The founders of TVmatsit.com will continue to run the product post-acquisition, and also integrate successful aspects of the platform and media strategy across Raketech’s key markets.
Michael Holmberg, CEO of Raketech, said: "We are pleased to acquire TVmatsit.com, a product which complements our existing range of online sports listing platforms. The acquisition is in line with our strategy to offer all product categories in Raketech’s key markets, and until now we have lacked a guide product in Finland. We look forward to working with the TVmatsit team to further optimise the product with our content and SEO expertise, and also replicate their successful media buying strategy in other markets.”
The acquisition was secured at a multiple of 5.2x EBITDA. The purchase price amounts to EUR 1.6 million, with an additional EUR 0.3 million paid over the next 24 months pending agreed-upon performance targets.
With the acquisition of TVmatsit.com, Raketech increases its online sports media offering, which currently includes TVmatchen.nu (Sweden), TVsportguide.com (UK), TVsporten.dk (Denmark), TVsportguide.de (Germany), TVkampen.com (Norway) and Esportsguide.com (Global).
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The information was submitted for publication on April 26, 2019, at 08:00 CET.
About Raketech Group
Raketech is a leading online affiliate and content marketing company, with expertise in delivering comparison services for sports and gaming, online guides, communities and social media products in primarily the Nordic region and the UK. Through some 20 flagship brands, Raketech guides sports and gaming enthusiasts to the best possible services, while also delivering high-quality traffic and leads to its partners. Raketech grows both organically and via acquisitions and operates its business in accordance with a clear framework for responsible affiliate marketing services. The company’s shares are listed in Nasdaq First North Premier with ticker RAKE. Erik Penser Bank AB is the company’s Certified Adviser (email@example.com / +46 8 463 83 00). For more information, visit www.raketech.com.