Moneta Acquires Catena UK and Aussie Brands for €6M
![Catena Media sells brands to Moneta Communications](/assets/images/news/5610/catena-sales-aussie-uk-brands_980x428.jpg)
Catena Media has reached an agreement to sell its UK and Australian online sports betting brands to Moneta Communications, a UK-based sports betting affiliate, for a sum of €6 million.
Included in the deal are all the assets of Catena Media’s UK business, encompassing the sports betting brands Squawka and GG.co.uk, as well as the entirety of the shares in the company’s Australian subsidiary. The transaction is expected to be complete in the third quarter of 2023.
Payment Details and Financial Impact
Of the total purchase price, €5.8 million will be paid in cash at the closing of the sale, while the remaining €0.2 million will be settled over the subsequent 75 days. The majority of the revenues from this sale are earmarked for debt reduction, which will subsequently decrease the group’s leverage ratio.
The intangible assets of the businesses being sold were recorded with a net book value of €6 million as of June 30, 2023, following an impairment charge of €15.2 million connected to the sale.
Over the last year, the two firms have collectively produced sales approaching €4.5 million and have achieved an EBITDA close to €0.9 million.
The transaction is expected to reduce the group’s annual costs by an approximate €2.8m.
Catena Continues to Focus on the US
This agreement is another milestone on our journey to focus the business on the North American online sportsbook and casino affiliation market. I am also delighted that we have found a buyer that is well placed to build on the success of our UK and Australian sports and casino brands and will offer them the scope and support they need to develop and grow.
Christopher Russel, Moneta Communications CEO, explained that the acquisition allows Moneta to “further our plan to acquire fan-focused, profitable digital media assets that cover major sports in important markets. We are excited to further develop and grow the assets and the team.”
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