Performance marketing specialist Catena Media is strengthening its sports division and German market presence with a deal to acquire sports betting affiliate Baybets.
Catena will acquire a network of 50 websites that are predominantly focused on German-speaking markets, in what the company describes as its largest acquisition to date.
It will make an initial payment of €26.5m for the business, although the final purchase price could rise as high as €63.5m, subject to Baybets hitting certain targets within the [...]
