M&A News

Stockholm-listed performance marketing specialist Catena Media has set its sights on opportunities in the United States following the adoption of iGaming legislation in Pennsylvania, starting with the acquisition of online poker comparison site PokerScout.

Catena has acquired PokerScout.com for $350,000 and said that it will work to improve the site's usability and visibility in order to strengthen its position in the US, particularly Pennsylvania, which has just legalised online poker and casino games.

Catena already operates multiple media assets in Pennsylvania and owns several domains tailored to the market, complemented by its portfolio in New Jersey's regulated online gaming market.  

"We are proud of the acquisition of PokerScout, which is the leading traffic comparison site for the online poker industry," Catena Media interim CEO Henrik Persson Ekdahl said.

"This acquisition is well-timed given that Pennsylvania is set to open their market for online gaming. We hope that more states will follow in Pennsylvania's footsteps," Ekdahl added. "We have been prepared for a long time and this is a milestone for our continued expansion in the US."

Shares in Catena Media plc (Co.Data) (STO:CTM) were trading up 0.97 per cent at SEK77.75 per share in Stockholm early Thursday.