XLMedia Plc has finalized an agreement to divest its media assets in Europe and Canada, with Gambling.com acquiring the portfolio in these markets. The transaction's terms include a total consideration of approximately $42.5 million, comprising a fixed amount of $37.5 million and potential additional earnings of up to $5 million.
Among the assets included in the sale are Freebets.com, WhichBingo.co.uk, Nettikasinot.com, and Vedonlyonti.com. XLMedia's decision to explore asset sales was announced in December 2023, aligning with its strategic direction to refocus on its North American business.
Analysts view this deal as an opportunity for XLMedia to concentrate its efforts and resources on the lucrative North American market. Proceeds from the sale will be utilized to cover expenses, outstanding payments, and provide working capital to fuel the company's growth initiatives in the United States.
