OneTwenty Announces the Acquisition of Catena Media's UK and Australian businesses for EUR 6.0m
Wednesday, August 16, 2023
WATERFORD, Ireland, Aug. 8, 2023 /PRNewswire/ -- OneTwenty, the digital sports and iGaming media company, announced today that it has acquired a number of leading sports publishing assets from Catena Media plc to enhance its sports publishing position in the UK and Australian Markets.
The group is buying the assets for 6.0 million euros. The business being purchased generated combined revenues of 4.5 million euros in the 12 months prior to close and has seen substantial year on year growth in the first half of 2023. The purchase is funded with the recently raised debt of almost 11 million euros from Thin Cats. The contribution of this business will increase OneTwenty's EBITDA guidance to 6.0 EUR for 2024.
The acquisition will allow OneTwenty to build on its ecosystem of highly engaging sports and iGaming brands and will create value for B2B sports-betting and iGaming Operators in the UK and Australian Market.
Chris Russell, the group CEO, said: "This purchase is another step on our journey to becoming a leading digital publisher at the convergence of sports, media and betting. We are reshaping our portfolio to focus on engaging fan experiences that allow us to build ecosystems for our loyal user base to enjoy. The portfolio builds on our horse racing and football audiences particularly and allows us to serve increasing demand from our sports-betting partners."
The Group Operations Director, Eoin O Keeffe, added: "I want to thank each member of our exceptional M&A team for the outstanding effort and dedication over the last few months that led to the successful closure of this acquisition. Charlene Walsh, Jack lodge, Jakub Pieczonka and Ray Kirwan. We are excited to continue to build on this momentum and strive for even greater successes in the future.
"The team at Catena Media's UK and Australian business is fantastic and we are excited to have them join our family. This gives us great confidence that we can grow this business together, leveraging the assets in both existing and new markets.
"The team at Catena Media's UK and Australian business is fantastic and we are excited to have them join our family. This gives us great confidence that we can grow this business together, leveraging the assets in both existing and new markets."
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SOURCE OneTwenty
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