XLMedia extends reach into Romania
XLM, a leading provider of digital performance marketing, is pleased to announce that it is commencing activities in Romania. The Company has been granted a Class 2 License from the Romanian National Gambling Office allowing it to operate as an online gambling affiliate. Following the license award, XLMedia has completed its first acquisition of publishing assets focused on Romania.
In May 2015, the Romanian regulator introduced strict gambling regulations whereby online operators and related service providers, both domestic and international, are required to be fully licensed in order to operate in the region. The license granted to XLMedia enables it to advertise locally licensed online gambling operators, which include many of the Company’s existing clients who are present in Romania.
Following the license process, the Group actively identified potential acquisition targets and today announces the acquisition of a portfolio of websites offering online betting and gambling content, including www.ponturi-bune.ro, for a total consideration of approximately $1.0 million.
The award of the license followed by the acquisition in Romania is further proof of XLMedia delivering on its stated strategy to diversify its geographical reach with strong presence in regulated markets. XLMedia will continue to operate its performance based model in Romania, to ensure the Company is aligned with its customers in delivering the most valuable end users.
Ory Weihs, Chief Executive Officer of XLMedia, commented:
“We are delighted to have been awarded a licensed gambling affiliate status in Romania. Many of our clients are already present in this market, hence it is important for us to extend our services to include Romania. Our recent acquisition is a first step in this market and we anticipate to grow in the near term through increased investment in the region in both the publishing and media divisions.”