Acroud AB acquires Matching Visions. Formerly known as Net Gaming, iGaming affiliate company signs a letter of intent to purchase PMG group Matching Visions gaming properties for €5.5 million.
Acroud will assume control of the B2B software provider Voonix and affiliate campaign specialist Traffic Grid, the Matching Visions igaming affiliate network. In 2020, PMG is projected to produce revenue of approximately EUR 10-11 million with an EBITDA (earnings before interest , tax , depreciation and amortisation) margin of approximately 10 percent.
The agreement includes a total purchase consideration of around Eur5.5 million and an earn-out consideration which is dependent on the EBITDA achieved in 2022. Acroud president and chief executive Robert Andersson commented on the agreement saying “This is a major piece in the puzzle to move Acroud strategically forward in the direction to become “the media house of the future” and a fast-growing global challenger in digital comparison and news services.”
On the threefold deal with the affiliate network, the B2B software and the affiliate campaign specialist, Andersson continued to say how these acquisitions will transform Acroud’s operations and they are focusing to close them efficiently.
More information will be provided when a transfer agreement is signed. The acquisition is expected to be finalized towards the end of the fourth quarter of 2020.