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XLMedia in 15m Finnish websites buy
XLMedia said it was buying a number of Finnish gambling-related informational websites from Good Game for up to 15m in cash.
The acquisition is expected to complete during the first quarter of 2018 and to be immediately earnings enhancing in the current financial year following completion, the company said.
The deal is made up of a network of gambling related websites focused on web and mobile traffic, specialising in casino games, XLMedia said in a statement.
Active since 2009, the websites provide visitors with information such as reviews of online casino websites, comparison of promotions offered by different brands and information on payment solutions.
For the year to end November 2017 the websites recorded revenues of 1.66m.
The total consideration includes an initial payment of 7m payable in milestones relating to the transfer of assets which are expected to be released within up to three months, and up to an additional 7m contingent on significant growth in performance during a period of six months.