Acroud has acquired 100 percent of the shares in Swedishsantas AB also known as TheGamblingCabin from Swedishsantas Media AB.
For a consideration of approximately SEK 47.3 million, on a cash- and debt-free basis. The Transaction also includes a potential additional consideration based on EBITDA development during the period from 1 April 2022 up to and including 31 March 2023.
The Transaction is based on Acroud’s signed letter of intent and previously communicated press release dated 17 February 2021. TheGamblingCabin is a fast-growing company offering a software-based tipster service as well as some very popular video content within Sports Betting, Poker, and Horse Racing.
TheGamblingCabin has a clear “strategic fit” with Acroud strengthening the software offerings (SaaS) as well as adding some of the most popular ways of consuming media, YouTube and Twitch, to Acroud’s offering.
TheGamblingCabin generated annualized sales of app EUR 1.4 million based on the 9 month period Q220-Q121 with an EBITDA margin of approximately 65 percent reaching an EBITDA of EUR 0.9 million. The Transaction is not subject to any further conditions and is completed as of 15 April 2021.
“This is the next step of the implementation of Acroud’s strategy to be the “Media House of the Future” and a fast-growing global player within Streaming and software solutions for the media affiliation industry. TheGamblingCabin’s “reduction tool” is an industry-leading software and TGC’s digital presence with “movable media” is impressive and something that may be expanded internationally.
The acquisition together with the other recent acquisitions is together considered transformative and additive for each other. We are building a company where all parts complement each other. The focus after the acquisition be on “operational excellence” and to develop the new Acroud together with our new team and partners for an existing journey ahead” Robert Andersson, CEO, and President, Acroud.
Bengt Sonnert, CEO at TheGamblingCabin comments on the Transaction; “To become a part of Acroud was actually nothing that we even thought about initially, but the more we understood what Acroud is building it felt like an easy choice. They share our visions and provide us with new and greater possibilities to bring our business to the next level.”