- Gambling.com Group Ltd (NASDAQ:GAMB) has acquired NDC Media, a marketing and news publishing company. The maximum total consideration is up to $69 million, consisting of $13.92 million already paid, an earnout payment of up to $21.85 million payable in 2023, and an additional earnout of up to $32.8 million payable in 2024.
- The company expects the acquisition to be immediately accretive.
- NDC Media is the publisher of BonusFinder.com, which has online portals helping consumers find and compare bonuses for online sportsbooks and casinos.
- "The acquisition of BonusFinder gives Gambling.com Group additional scale in the North American online gambling market. BonusFinder's strong presence in Canada is expected to drive increased market share for the Group ahead of the anticipated Ontario online sports betting and iGaming market launch in April," said CEO Charles Gillespie.
- The company closed the deal on January 31, 2022, and will be consolidated into the group financial statements from February 1, 2022.
- Gambling.com held $53.2 million in cash and equivalents as of September 30, 2021.
- Price Action: GAMB shares closed higher by 7.46% at $10.51 on Monday.
