OneTwenty Announces the Acquisition of Catena Media's UK and Australian businesses for EUR 6.0m
9 August 2023
OneTwenty, the digital sports and iGaming media company, has announced its acquisition of prominent sports publishing assets from Catena Media plc, a move aimed at bolstering its sports publishing foothold in the UK and Australian markets.
The purchase, valued at 6.0 million euros, encompasses assets that collectively generated revenues of 4.5 million euros in the preceding 12 months, exhibiting substantial year-on-year growth in H1 2023. Financing for this acquisition stems from the recently secured debt of nearly 11 million euros from Thin Cats. Consequently, this addition will elevate OneTwenty's projected EBITDA to 6.0 EUR for the year 2024.
Through this acquisition, OneTwenty is poised to amplify its ecosystem of captivating sports and iGaming brands, delivering added value to B2B sports-betting and iGaming operators within the UK and Australian markets.
Chris Russell, the CEO of the group, affirmed, "This acquisition marks another stride in our evolution towards becoming a premier digital publisher at the intersection of sports, media, and betting. We are reshaping our portfolio to emphasize engaging fan experiences, fostering ecosystems for our dedicated user base's enjoyment. This portfolio strategically leverages our horse racing and football audiences, and responds to the growing demands of our sports-betting partners."
Eoin O'Keeffe, the Group Operations Director, extended appreciation to the remarkable M&A team for their dedicated efforts leading to the successful closure of the acquisition. "We are enthusiastic about sustaining this momentum and striving for even greater achievements in the future," O'Keeffe expressed, acknowledging the contributions of Charlene Walsh, Jack Lodge, Jakub Pieczonka, and Ray Kirwan.
O'Keeffe further underlined, "We warmly welcome the exceptional team from Catena Media's UK and Australian division to our fold. Their inclusion bolsters our confidence in our joint growth prospects, allowing us to leverage the assets in both established and new markets."
Source: prnewswire.com
