Online performance marketing firm Catena Media has announced the completion of an all-cash arrangement that has seen it purchase the real-time sports data website at Lineups.com for $39.6 million.
The Maltese firm used an official press release to detail that the agreement is destined to strengthen its position in the embryonic sportsbetting market of the United States by allowing it to utilize the Colorado-based domain’s full range of real-time analysis and bet prediction tools.
Catena Media declared that Lineups.com supports sportsbetting aficionados by providing them with ‘confirmed and projected starting line-ups and rosters’ covering a wide range of contests from some of the United States’ most popular sports leagues including the National Hockey League (NHL), National Football League (NFL) and Major League Baseball (MLB). It stated that the sports-focused affiliation website also handles fantasy sports action and allows users to benefit from ‘all kinds of available player and team information’ such as trends, injuries and performance news.
Michael Daly serves as the Chief Executive Officer for Catena Media and he used the press release to proclaim that Lineups.com holds ‘a strong market position’ in the majority of the United States’ regulated sports wagering markets including those for Virginia and Michigan. The boss moreover disclosed that the purchase price is to now be paid in three instalments and could be bumped up by as much as $500,000 should the state of New York allow sportsbetting and ‘certain revenue thresholds’ be met before April of 2024.
Read a statement from Daly…
“The acquisition of Lineups.com strengthens our leading position in the growing United States betting market with a complementary product that fits perfectly into our existing United States portfolio. It gives us a second, even stronger, national sportsbetting affiliation site alongside TheLines.com that will allow us to capture more market share across North America and take advantage of shared tools across multiple Catena Media sites.”
Catena Media divulged that Lineups.com recorded some $7.5 million in sales for the twelve months to the end of April, which corresponds to approximately 10% of its own revenues over the course of the same period. It additionally asserted that the newly-acquired target is expected to ‘have a direct positive effect’ on its earnings before interest, tax, depreciation and amortization despite the prospect that its receipts could ‘fluctuate significantly with the United States’ sportsbetting calendar.’
Finally, Daly confirmed that the founder of Lineups.com, Sam Shefrin, is to now be engaged ‘as an exclusive consultant to the business’ where he will supply ‘his industry and technology focus’ so as to help Catena Media strengthen its ‘leading position in the growing United States betting market.’