Acroud AB (publ) (“Acroud”) has signed another Letter of Intent (“LOI”) regarding the acquisition of the iGaming assets of PMG Group (“PMG”). PMG is a fast-growing company active within predominately the European market with the affiliate network Matching Visions and the iGaming campaign broker Traffic Grid, but is also an industry leading SaaS service provider with Voonix. This is the latest out of three LOIs that Acroud recently has signed as part of the strategy to create “the Media House of the Future” and become a fast-growing global challenger in digital comparison and news services.
PMG is expected to generate sales of approximately EUR 10.0-11.0m in 2020 with an EBITDA margin of approximately 10%. The agreement comprises a total purchase consideration of approximately EUR 5.5m and an earn-out consideration, which is contingent on the EBITDA achieved in 2022. The acquisition is subject to the parties entering into a definitive purchase agreement.
The acquisition includes Matching Visions, an iGaming affiliate network with a prime position within Casino affiliation in the European market, as well as the fast growing Voonix, a software company providing a successful B2B software aimed at improving information and productivity for affiliates within different industries. Furthermore the acquisition includes Traffic Grid, which is focused on bringing predominately iGaming affiliate campaigns to mainstream affiliate networks
The acquisition of the PMG Group, together with the previously communicated ongoing acquisitions, positions Acroud as not only a leading affiliate within Casino, Sport Betting and Poker, but also as a B2B provider of iGaming affiliate-campaigns and software solutions for iGaming as well as any other affiliate industry. The acquisition is in line with the previously communicated new strategy and complements the other acquisitions, which are more focused towards Sports Betting and Emerging Markets. With the PMG Group assets, Acroud sees not only a strong financial growth driver but also significant synergies across the future operational organization. More information will be released when a transfer agreement is signed. The acquisition is expected to be finalized in the fourth quarter of 2020.
”This is a major piece in the puzzle to move Acroud strategically forward in the direction to become “the Media house of the future” and a fast-growing global challenger in digital comparison and news services. The three acquisitions are together transformative for Acroud’s operations and we now aim to efficiently complete them. The focus will thereafter be on operational excellence and develop the new Acroud together with our new team and partners on the exciting journey ahead”
Robert Andersson, President and CEO, Acroud
Responsible parties
This information constitutes inside information that Acroud AB (publ) is required to disclose under the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons below, at the time specified by Acroud AB’s (publ) news distributor Cision for publication of this press release. The persons below may also be contacted for further information.
For further information, please contact:
Robert Andersson, President and CEO
+356 9999 8017
Gustav Vadenbring, CFO
+356 9967 6001
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ACROUD AB (publ) |
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| Telephone: | +356 2132 3750/1 |
| E-mail: | [email protected] |
| Website: | www.acroud.com |
About ACROUD AB
ACROUD owns, operates and develops high-quality comparison sites, mainly in iGaming affiliation, for the purpose of helping our partners by channelling high-quality users to the Company’s customers – primarily iGaming operators. Through the sites, ACROUD generates high-quality users, primarily to global iGaming operators. The Company, which was founded in 2003, has just over 70 employees and is headquartered in Malta. The share (ACROUD) is listed on Nasdaq First North Growth Market. Certified Adviser: FNCA Sweden AB, [email protected], +46 8 528 00 399
