This move comes as the international iGaming lead generation company looks to bolster its North American operations.
The assets comprise more than 100 websites and domains that focus on states starting their first full American football season, such as Michigansharp.com, large upcoming states like NYSportsDay.com, as well as nationally ranked sites like bonus.com and gamblingonline.com.
Michael Daly, Catena Media CEO, commented: “The addition of i15 Media’s online sports betting and casino assets to our North American portfolio will accelerate our already rapidly expanding business there.
“In addition to i15’s strong national and state brands generating revenues in current markets, the additional coverage for upcoming states will further cement Catena Media’s leadership position in the United States.”
The company expects the acquisition to have a direct positive effect on Catena Media’s earnings before interest, taxes, depreciation, and amortization (EBITDA) as of 9 September.
It anticipates an average EBITDA margin of at least 70% from the acquired assets.
“I am also excited that i15 Media’s founder and owner will join us as a consultant for the next few years. He will provide valuable support for our internal team as we pursue our roadmap,” added Daly.
Of the total purchase price, $12.5m is payable in cash on closing, and a further $20m in three instalments.
The company has stated the remaining $12.5m will be settled with 2,207,357 new Catena Media shares as soon as feasible after closing.
This development comes off the back of Catena acquiring Lineups.com for $39.6m in May and signing a decade-long extension with SportsDataIO in August to power its lead generation tools.
