Perform acquires German media company
Sportal, which reported seven-figure revenues in FY 2011, provides content for a variety of German news sources.
Live streaming and sports media provider Perform Group has completed the acquisition of German media company Sportal, home to the Sportal.de sports news portal, for an undisclosed amount.
The company, which is anticipated to boost Perform’s presence in the EU member state, provides content for news sources such as Spiegel and RTL.de, and reported revenues of 1.4m for the year ended 31 December 2011.
It is just the latest example of the AIM-listed company’s expansion into relatively unexplored markets, following its acquisition of a majority stake in Turkish business Mackolik in a deal worth £14.6m in June.
May saw Perform agree what it described as potentially its “largest and most significant” deal ever, a 120m acquisition of Switzerland-based sports data company RunningBall.
In the company’s half-year results statement last week, Perform Group joint-CEO Oliver Slipper said the integration of Mackolik and Running Ball was “progressing well,” while he described the Sportal deal as “Another positive acquisition for Perform.”
“We are very committed to the German market and see some great opportunities in what is one of the largest digital economies in Europe. Sportal has a heritage of providing great content to German fans and the acquisition takes us a step closer to consolidating our position as the leading digital sports advertising platform in market,” added Slipper.
Earlier this week eGaming Review revealed that online gambling operators would be afforded more time to apply for a licence in Germany, with 20 licences made available under the country’s State Treaty and the deadline for application extended until next week.
Bwin.party – which uses Perform’s Watch&Bet live streaming service – is among the operators to suggest it intends to apply, despite co-CEO Jim Ryan saying the treaty fails to meet EU requirements.
Breakaway state Schleswig-Holstein awarded five new sports betting licences last month, and while the government of the region has revealed it intends to abolish its existing legislation and join the State Treaty, its interior minister Andreas Breitner has explained that more licences may be issued until the existing law is overturned.