Jersey based XLMedia, a provider of digital performance marketing services, has acquired an un-named Scandinavian website network within the online gaming sector for $2.3 million in cash.
The company said that the network reviews a large number of online casino and poker websites, mainly in Denmark, generating “high value added content”. The acquisition provides a geographic footprint to XLMedia’s existing Scandinavian presence and extending its reach into Denmark, a fully regulated market.
The acquisition follows two acquisitions of domains in the North American market during H1 2014, also aimed at extending into new territories and further establishing a presence in fully regulated markets.
The Group said it will continue to buy domains and websites as part of its ongoing growth strategy as well as continuing to evaluate an increased presence in fully regulated markets.
Commenting on the acquisition, CEO, Ory Weihs said, “Since our IPO in March this year, we have continued to make good progress with positioning XLMedia to capitalise on the significant growth opportunities in the online gaming sector. This acquisition represents a complementary fit for our business, strengthening our reach in Scandinavia and providing entry into Denmark, a fully regulated territory.”
UK, St Helier, Jersey