Igaming performance marketing partner Raketech acquired prognosticator assets ATS Consultants Inc, a tailor-made pre-game information provider for sports, with key assets Winnersandwhiners.com, Statsalt.com and Pickpapa.com.
Pre-game information is provided to sports fans across the United States by a dedicated team of experts located in Baltimore. Following the acquisition, Raketech’s revenues in the United States are expected to reach up to 20% of the group’s total by the first quarter of 2022. Meanwhile, its sports segment is expected to reach up to 35% of the group’s total. group.
The agreed purchase price is $ 15.5 million on a cash, debt-free basis and will be settled by a cash payment of $ 12 million at closing and an additional cash payment of $ 1 million. of dollars six months after closing. The additional purchase price will be settled by issuing new Raketech shares for an amount of $ 2.5 million.
The price represents a multiple of approximately 6x EBITDA and 2.5x revenue for the past 12 months, with the possibility of additional earn-out payments based on certain performance metrics 36 months after closing.
The acquisition complements Raketech’s U.S. asset portfolio and includes 20 employees in Baltimore who will continue to work there, led by current ATS CEO Jordan Abrams, and will form Raketech’s local office in the States. -United.
Oskar MÃ¼hlbach, CEO of Raketech said, âI am delighted that we are able to follow through on the latest acquisition of P&P Vegas Group with another strategically important acquisition in the United States. This market is of particular interest to us because it should experience substantial growth over the next few years. And I think adding Raketech’s business and operational capabilities to the acquired assets is a great way to maximize this opportunity.
He continued, âI am also delighted to have the talented ATS team on board, and look forward to combining our business models and sharing technology and know-how between us. Additionally, as Raketech already offers sports information and betting advice in the United States, there are obvious opportunities for cross-promotion and collaboration across our asset ecosystem to provide an even better service to the end user as well. that even better marketing opportunities for our customers, the operators â.