Independent online sportsbetting affiliates network provider AXL Affiliates Limited has signed a deal that will see it spend approximately £22 million ($29.1 million) in order to acquire digital advertising firm Astute Media Limited along with some twelve subsidiary companies.

Malta-based AXL Affiliates Limited stated that the agreement has been designed to strengthen its position in the online sportsbetting affiliates sector while assisting in its efforts to reach new markets and territories.

“With this amazing acquisition, by far our biggest one so far, we are reaching new heights in our quest for becoming the leading iGaming affiliates company in the world,” read a statement from Alex Munteanu, President for AXL Affiliates Limited. “AXL Affiliates Limited is a fast-growing company and I am confident that this acquisition will double the leads that we are delivering to our iGaming partners.”

AXL Affiliates Limited further declared that the deal means that it will soon have everything it needs ‘to become the world’s biggest’ sportsbetting affiliates firm and is moreover set to open ‘new business doors’ as it considers the possibility of launching an initial public offering.

“As a result of this acquisition, in the coming weeks AXL Affiliates Limited will send ten times more traffic to our partners,” read the statement from Munteanu. “Our expectations are that by mid-2018 AXL Affiliates Limited will be able to organically send more than 25,000 leads per month.”

This is not the first time that AXL Affiliates Limited has grown via an acquisition as it spent some £260,000 ($344,000) in early-March to purchase British firm TipsBetting Media Limited before later shelling out just over £1 million ($1.35 million) to buy sportsbetting affiliates domain