Raketech completes QM Media acquisition
Malta-based igaming affiliate improves US footprint in largest-ever deal
Raketech’s acquisition of QM Media and its P&P Vegas Group subsidiary has cleared its final hurdles after originally being announced in July.
As a result of the acquisition, QM Media and P&P Vegas Group, together with its employees, will now be operating as an integrated part of Raketech.
With the deal complete, the Malta-based affiliate will now focus on the implementation of its technology infrastructure and the introduction of affiliate marketing sales in all licensed states in the US.
Meanwhile, with Raketech’s largest acquisition to date, the company is expected to have added more than €6m in revenue and increased margins by as much as 4% on a yearly basis.
The purchase went through at an agreed price of €16m, settled in a cash payment of €9m and the remaining part in shares with a 24-month lock-up period. There is no earn-out.
Raketech CEO Oskar Mühlbach said: “I’m satisfied that we now formally have closed this important acquisition, the largest to date for Raketech, and to be reinforced with a network of sports betting experts and profitable assets with significant growth potential.
“I am also very happy to welcome our new colleagues, together we will continue to work on our growth strategy – to increase our market share through product diversification, geographical expansion, increased monetisation through R&D as well as M&A, with a specific focus on the US,” he added.
P&P Vegas Group operates US-facing tipster site Picksandparlays from its Ohio headquarters while Stockholm-based QM Media primarily operates as a cricket affiliate.