Raketech completes the acquisition of QM Media operations and its subsidiary P&P Vegas Group Inc.
Raketech completes the acquisition of QM Media operations and its subsidiary P&P Vegas Group Inc.
On 7 July 2021, Raketech, the iGaming performance marketing partner, announced that the company strengthens its sports portfolio and US footprint through the acquisition of the assets and liabilities in QM Media AB including assets such as Onlinecricketbetting.net, as well as QM Media subsidiary P&P Vegas Group Inc. with key asset Picksandparlays.net. The companies have now signed the final agreements, hence, completing the transaction – with QM Media and P&P Vegas Group together with its employees now operating as an integrated part of Raketech.
Raketech has identified several growth and development opportunities for the acquired assets, such as the implementation of Raketechs technology infrastructure and introduction of affiliate marketing sales in all licensed states in the US. As previously announced, as a result of the acquisition combined with in August 2021 added Infinileads, Raketech is expected to be added more than EUR 6m in revenue and increased margins with as much as 4 percentage points on a yearly basis.
Oskar Mühlbach, CEO of Raketech said: “I’m satisfied that we now formally have closed this important acquisition, the largest to date for Raketech, and to be reinforced with a network of sports betting experts and profitable assets with significant grow potential. I am also very happy to welcome our new colleagues, together we will continue to work on our growth strategy – to increase our market share through product diversification, geographical expansion, increased monetization through R&D as well as M&A, with a specific focus on the US.”
The agreed purchase price amounted to EUR 16m on a cash and debt free basis, settled in a cash payment of EUR 9m and the remaining part in shares with a 24-month lock-up period. There is no earn-out. The purchase price represents a multiple of approximately 5.6x EBITDA and 3.8x revenues for the last twelve months.