Affiliate firm Catena Media plc has confirmed the acquisition of 100% of the shares in sports betting affiliate Lineups.com for $39.6m. The deal comprises three cash instalments over a two-year period.
In addition, a contingent cash payment of $0.5m will be due if New York State allows sports betting within three years of the closing date and certain revenue thresholds are met.
Lineups.com engages bettors by providing confirmed and projected starting lineups and rosters for the NFL, NBA, MLB, NHL, US sports leagues and for fantasy sports. The website considers all kinds of available player and team information, including injuries, news, performance and trends.
The affiliate enjoys a strong market position in most of the regulated US states, including recently launched Michigan and Virginia.
According to Catena, Lineups.com recorded sales of approximately $7.5m in the last 12 months to 30 April 2021. Calculated for the first quarter of 2021, its sales corresponded to circa 10% of Catena’s total revenue.
Michael Daly, CEO Catena Media, commented: “The acquisition of Lineups.com strengthens Catena Media’s leading position in the growing US betting market with a complementary product that fits perfectly into our existing US portfolio.
“It gives us a second, even stronger, national sports betting affiliation site, alongside thelines.com. This will allow us to capture more market share across North America, as well as to take advantage of shared tools across multiple Catena Media sites.”
According to Daly, Lineups Founder Sam Shefrin will work with the Catena Media team “for the near future” as an exclusive consultant to the business.