Perform acquires Turkish media company
Live streaming provider secures 51% stake in Mackolik for a £14.6m outlay.
Perform Group has invested more than 40m Turkish Lira (£14.6m) for a 51% stake in leading Turkish digital media company Mackolik Internet Hizmetleri Ticaret A.S, the AIM-listed live streaming provider has announced.
Mackolik is the owner of Turkish-language sports websites including Mackolik.com and sahadan.com which carry news and information for various events and are the two most-visited sports websites in Turkey with 7.8m and 8.5m average monthly unique users respectively from the five-month period ended May 2012, according to Perform.
In a statement today, Perform said: “The acquisition significantly enhances Perform’s presence in Turkey, the fastest growing digital market in Europe, and is in line with Perform’s stated strategy for growth through acquisitions announced at the time of the IPO.”
The news comes just over a year after the company floated, and two months after it began a period of Facebook integration which will ultimately see it roll out 50 dedicated live sports streaming channels on the social network.
It also signed recent deals with LG and Youtube, as well as doubling its live streaming portfolio for South American football following an agreement in February with Full Play Group.
Perform will acquire the remaining 49% of Mackolik for cash based on agreed multiples relating to EBITDA for the 2014 and 2015 financial years. The maximum additional consideration, to be paid in March 2016, is £60.4m.
Perform joint-CEO Oliver Slipper said: “Turkey is a hugely exciting opportunity for Perform, given the rapid growth in online advertising and internet usage and its young and growing population. Within this important geography, Mackolik is the clear market leader with a fantastic portfolio of websites and content.”