A leading iGaming firm headquartered in Malta, Catena Media, has considerably broadened its footprint in the German sports wagering sector through the purchase of Baybets Ltd. for €26.5 million. This tactical maneuver represents Catena Media’s most substantial acquisition yet and cements its standing as a dominant force within the industry.

The deal encompasses an initial disbursement of €13.25 million in newly minted Catena Media stock and an equivalent cash component. Furthermore, a performance-based earn-out payment of up to €6.5 million, contingent on the acquired entity’s financial results over the ensuing two years, is incorporated into the agreement.

Baybets, boasting an estimated quarterly turnover of €2.25 million and a remarkable operating profit margin of roughly 70%, injects a robust financial standing into Catena Media. The assimilation of Baybets’ 23 staff members into Catena’s current sports betting operations is anticipated to bolster the company’s proficiency and market penetration.

Henrik Persson Ekdahl, Catena Media’s interim Chief Executive Officer, conveyed his excitement regarding the acquisition, asserting that it establishes the company as one of the most formidable sports betting enterprises in the market.

A German sports betting partner, Baybets, has been purchased by Catena Media. The company, Baybets, manages more than 50 webpages, featuring well-known hubs like sportwetten.org and sportwette.net, concentrating mainly on the Germany, Austria, and Switzerland region.

The CEO of Baybets, Jan Steffen, conveyed appreciation to the staff for their efforts in the company’s achievements, remarking, “We are deeply thankful to all who have participated in our path thus far.” He continued, “We are excited to begin this fresh phase with Catena Media, an action that guarantees substantial expansion and teamwork.” The merger will result in Baybets being absorbed into Catena Media’s current activities.