Catena Media boosts financial services arm with US acquisition
Lead generation giant purchases stocks analysis firm Hammerstone Inc for an initial $5m
Catena Media has expanded its US-facing financial services portfolio with the $5m acquisition of stocks analysis firm Hammerstone Inc.
Hammerstone is a subscription stock analysis service and will be used to deliver content to retail traders on various platforms in the Catena Financial Services arm.
According to Catena, Hammerstone has built up a financial media product that allows subscribers to obtain real-time news and analytics giving them the edge on stocks.
The focus on integrating Hammerstone into Catena Financial Services will be a key part in extending Catena Media into new key product areas, which, in addition to traditional affiliate-revenues, will now include subscription-based revenues.
The new areas include equities trading, FX trading and personal finance, and the acquisition provides a product that is “fundamental” to the trading sector strategy.
Catena Media CEO Per Hellberg said: “The potential of this vertical, and for Hammerstone, is immense and will contribute to establishing our strong vision of positioning ourselves within the US finance services vertical and extending this globally.”
Connecticut-based Hammerstone was started in 2002 and currently generates quarterly sales of about $450k.
The business is described as an instant messaging-based platform that provides subscribers with immediate notifications of market-driving news.