Raketech expands US footprint with $15.5m ATS Consultants acquisition
Raketech purchases sports insight firm ATS Consultants as it sets its sights on US growth.
Baltimore-based tipster ATS Consultants has been bought by Raketech for $15.5m as the European iGaming affiliate moves to strengthen its US position.
With this latest acquisition, Raketech has doubled down on its commitment to US sports, expecting revenues from its American assets to now reach up to 20% of the group’s total by the end of Q1 2022. In addition, the Malta-based company expects its sports segment to reach up to 35% of the group’s total.
According to Raketech, the $15.5m purchase price represents six times ATS’ EBITDA and 2.5 times its revenues for the past 12 months. $12m will be settled in cash, with a further $1m delivered after closing, while the outstanding $2.5m will be settled via the issuance of new shares.
“I am thrilled that we are able to follow up the latest acquisition of P&P Vegas Group with yet another strategically important acquisition in the US,” commented Oskar Mühlbach, Raketech’s CEO.
“This market is of specific interest to us as it is expected to grow substantially within the next years, and I believe that adding Raketech’s commercials and operational ability to the acquired assets is a great way to maximize this opportunity.”
ATS’ pre-game insights, alongside several high-performing assets such as Winnersandwhiners.com, Statsalt.com and Pickpapa.com, sealed Raketech’s decision to acquire the company. ATS will continue to operate from its offices in Baltimore, and current Chief Exec Jordan Abrams will remain as CEO.
Mühlbach concluded: “I am also excited to have the talented ATS team on board, and I am looking forward to combining our commercial models and to share technology and know-how between us.”
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