STOCKHOLM, May 21, 2018 /PRNewswire/ --
Net Gaming Europe AB, a leading global player of comparison websites within iGaming, completes the strategic acquisition of affiliate assets, primarily in the DACH region (Germany, Austria and Switzerland) from Webwiser Gmbh.
On April 19, 2018, Net Gaming announced the signing of a Letter of Intent to this effect. Net Gaming has now signed an agreement to acquire these affiliate assets.The operations show strong growth and are currently generating quarterly sales of approximately EUR 200,000, with an operating margin of approximately 75%. About 75% of the revenues are generated via revenue sharing.
"The acquisition strengthens our position in the DACH region. We have identified the DACH region as one of the geographical markets with the highest growth potential in the long run. This transaction will give us further opportunities to grow our existing operations in the region, and also expand these assets to new markets. Considering the fact the the founders will remain and continue to work with the assets for Net Gaming feels truly great, since we have got a great first impression of the said founders," comments Marcus Teilman, CEO of Net Gaming.
"We are truly excited at finding the right buyer for our business, and are looking forward to work with the team at Net Gaming to take the websites to the next level. With its proven track record and a group of savvy people around, Net Gaming takes a great leap forward to become a major player in performance marketing on the DACH market." comments André Boeck, founder and CEO of Webwiser.
The initial purchase consideration of EUR 2.29 million will be settled with existing cash resources. Payment of a maximum aditional consideration of EUR 1.25 million may also be required.
The acquired assets from Webwiser will be consolidated immediately and will have a positive impact of Net Gaming's profit.
For further information, please contact:
Marcus Teilman, President and CEO
+356 9936 7352
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 21 May 2018 at 08.30 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.
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