Raketech completes the €16 million acquisition of P&P Vegas Group Inc
Raketech reaches for affiliate marketing sales in the US through the acquisition of QM Media’s American subsidiary, P&P Vegas Group Inc whose flagship getting channel, PicksandParlays, now operates under Raketech.
The Acquisition is Complete Following the Signing of the Deal’s Final Agreements
QM Media and P&P Vegas Group, along with their employees, are now integrated with Raketech and operate within the new parent company.
Raketech sees this as a larger opportunity to use its own affiliate marketing tech and infrastructure in licensed states across the US.
This is the largest acquisition so far for Raketech. In a statement by Raketech’s chief executive, Oskar Mühlbach, the company is eager “to increase our market share through product diversification, geographical expansion, increased monetization…with a specific focus on the US.”
Raketech Expects to Add at Least €6m in Revenue
Increased margins and 4 percentage points yearly are also expected. This forecast includes the P&P Vegas Group acquisition as well as Infinileads from August 2021.
€16m was the agreed purchase price, in cash and debt-free. €9m has been paid upfront in cash. The remaining amount will be paid in shares with no earn-out.
Raketech revealed a 25.8% YoY increase in revenue with a record-breaking €17.1m in just the first half of 2021 for the company. A spokesperson of Raketech stated they attribute this growth to the rise in network sales and acquisitions.