XLMedia plc Acquires Affiliate Network
XLMedia (AIM: XLM), a provider of digital performance marketing services, is pleased to announce that it has acquired a leading Scandinavian website network within the online gaming sector for a cash consideration of US$2.3 million. The acquisition is expected to be earnings accretive during the year ending 31 December 2014.
The network reviews a large number of online casino and poker websites, mainly in Denmark, generating high value added content. This enables it to refer significant amounts of customers to its partner brands.
The acquisition represents an attractive opportunity for the Group, offering a complementary geographic footprint to XLMedia's existing Scandinavian presence and extending its reach into Denmark, a fully regulated market.
The acquisition follows two acquisitions of domains in the North American market during H1 2014, also aimed at extending into new territories and further establishing a presence in fully regulated markets.
The Group will continue to buy domains and websites as part of its ongoing growth strategy as well as continuing to evaluate an increased presence in fully regulated markets.
Commenting on the acquisition, CEO, Ory Weihs said,
"Since our IPO in March this year, we have continued to make good progress with positioning XLMedia to capitalise on the significant growth opportunities in the online gaming sector. This acquisition represents a complementary fit for our business, strengthening our reach in Scandinavia and providing entry into Denmark, a fully regulated territory.