RakeTech expands online sports listing services to Finland
Raketech, a leading online affiliate and content marketing company, continues to expand its offering of online sports TV listing platforms by acquiring Finland’s leading sports listing website TVmatsit.
TVmatsit.com is a product that has clear synergies with Raketech’s existing family of online media guide websites and mobile apps. TVmatsit.com is a highly popular platform that generates traffic organically by delivering a complete guide to sports broadcasting in Finland and through a successful media buying strategy. The founders of TVmatsit.com will continue to run the product post-acquisition, and also integrate successful aspects of the platform and media strategy across Raketech’s key markets.
Michael Holmberg, CEO of Raketech, said, “We are pleased to acquire TVmatsit.com, a product which complements our existing range of online sports listing platforms. The acquisition is in line with our strategy to offer all product categories in Raketech’s key markets, and until now we have lacked a guide product in Finland. We look forward to working with the TVmatsit team to further optimize the product with our content and SEO expertise, and also replicate their successful media buying strategy in other markets.”
The acquisition was secured at a multiple of 5.2x EBITDA. The purchase price amounts to €1.6 million, with an additional €0.3 million paid over the next 24 months pending agreed-upon performance targets.