Gambling.com Group buys NDC Media to boost North American presence
The Affiliate business Gambling.com Group has agreed to acquire the publisher of BonusFinder.com to boost its North America growth strategy.
Ireland.- The affiliate business Gambling.com Group has reached a deal to buy NDC Media, which owns the bonus comparison brand BonusFinder. The deal, worth up to €60m, will form part of the Irish affiliate company’s strategy to expand in North America.
BonusFinder’s online portals allow players to compare bonuses offered by online casinos and sportsbooks. Its largest presence is in Canada, but it does also have a presence in the US, which it was planning to expand.
Gambling.com will pay an aggregate purchase price of €12.5m – €10.0m in cash and €2.5m in newly issued, unregistered ordinary shares.
Additional performance-based earnout payments in 2022 and 2023 could take that up to €60m. Up to half of each earnout payment may be paid in unregistered ordinary shares in Gambling.com
Gambling.com Group chief executive Charles Gillespie said: “We believe that the combination of these two complementary businesses is immediately accretive to our fiscal 2022 earnings and establishes a foundation for a leadership position in North America which will drive value creation for our shareholders.
“We believe the deal structure provides an attractive risk/reward balance for the Group. The total consideration for the transaction will vary commensurately with the financial performance of the acquired business, guaranteeing an attractive acquisition multiple for the Group and tightly aligning the financial incentives of the newly combined businesses.”
BonusFinder chairman Fintan Costello said: “These organisations complement each other well as partners within the North American market.
“Gambling.com Group has demonstrated its leadership position within the online sports betting and igaming industry, and its proprietary technologies and experience will provide BonusFinder with the tools to maximise growth in this exciting new era of North American regulation.”
In December, Gambling.com Group entered into a definitive agreement to acquire fantasy sports news and advice provider Roto Sports, operator of RotoWire.com, for $27.5m.
