Malta-based gaming marketing company Raketech has acquired P&P Vegas Group Inc and all assets from QM Media AB.
The price of the purchase amounted to €16 million on a cash and debt free basis and will be settled in a cash payment of €9 million and an issuance of 3,8881,968 new Raketech (RAKE) shares.
“With these acquisitions, we are delivering on several strategically important goals; significant sports revenues, revenues from high growth markets, boots on the ground in the US and asset diversification and new revenue streams,” Raketech CEO Oskar Muhlbach said.
Through Raketech’s acquisition of P&P Vegas Group, stationed in Ohio, its network of sports betting experts has been reinforced by a team of six full-time-equivalents.
P&P Vegas Group is best known for its platform Picksandparlays – a US-based betting tipster community with a strong presence in social media, web, and video. Picksandparlays has been provided sports betting content in the US market for over a decade and attracts around half a million unique monthly users.
Raketech’s acquisition of QM Media AB includes cricket betting website Onlinecricketbetting.net, which generates most of its traffic from India.
Presently, QM Media AB holds the position as the largest cricket sports betting affiliate, with Onlinecricketbetting.net reaching over a million unique users during major events such as the Indian Premier League.
“By partnering with Raketech we gain access to their well-established infrastructure that will help leverage our strong brands and market positions,” QM Media CEO Marcus Egstam said.
The acquisitions are set to close on 15th September 2021.
Oskar Mühlbach / LinkedIn
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