Thimba Media, the iGaming performance marketing company, today announces a significant step forward in its stated strategy to expand its presence in locally regulated markets with the acquisition of online casino assets from the business Astro Media Group AB. The assets are expected to generate net income of in excess of US $580,000 (£421,000/€488,000) in the coming 12 months.
Astro Media Group AB is a successful digital publishing group based in Sweden.
The assets being acquired are online casino product comparison portals across predominantly locally regulated markets including Sweden, the UK and Latvia.
“It is great to have acquired such an attractive set of assets from such an experienced publishing team. At a time when the majority of our competitors are looking at the US market, we are looking at value investments across locally regulated European Markets providing us with strong returns to grow our business.
In addition to having strong agreements in place with some of the largest casino operators in Latvia and Sweden, the assets also have extensive reach in the CIS markets. It’s exciting to be able to establish such a meaningful presence in the regulated Swedish Market through this Acquisition. ” said Ferdia O’hAodha, CMO for Thimba Media Limited.
Chris Russell, CEO for Thimba Media Limited said “This acquisition is another major step toward our goal of becoming a large affiliate company and realising our goal of sustainable and accelerated growth both organically and via our systemic M&A strategy. Our next target will be a US focused Acquisition in late 2021.”
The acquisition was settled using Thimba Media’s current cash balance and represents the second acquisition of 2021 for the company.