Raketech grows US footprint with $15.5m acquisition of ATS Consultants

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Raketech, the igaming performance marketing partner, has completed the acquisition of ATS Consultants in a move, said the firm, that strengthens its sports portfolio and US footprint. 

First announced on November 9, 2021, the cash and share deal sees all assets and liabilities such as Winnersandwhiners.com, as well as Statsalt.com and Pickpapa.com together with the employees of ATS integrated as part of Raketech.

In a statement, Raketech confirmed it has identified several growth and development opportunities for the acquired assets, such as the implementation of its own technology infrastructure and introduction of affiliate marketing sales in all licensed states in the US. 

As previously announced, as a result of the acquisition, the firm is expected to reach over $56.5m in annual revenue with an EBITDA margin exceeding 40%.

CEO Oskar Mühlbach said: “With all formalities now successfully closed I look very much forward to combining our commercial models and to share technology and know-how between our teams to address the so important US market. 

“As a matter of fact, with this acquisition, over 20% of our revenues is expected from the US already during Q1 of next year, putting us in a good position in the rapid growing US market. Furthermore, I am happy that we – through this acquisition – strengthen our US organization with a strong local team with extended knowledge within the US sports industry. I am confident that together with the ATS team we will be able to accelerate the growth of our market share in the US sports industry.”

The agreed purchase price amounted to $15.5m on a cash and debt free basis, settled in a cash payment of $12m as per closing and an additional cash payment of $1m six months post-closing. The remaining part of the purchase price of $2.5m will be settled through Raketech shares with a 36-month lock-up period.