CentralNic Group PLC (LON:CNIC) said it has agreed to acquire Wando Internet Solutions GmbH, a Berlin-based social marketing, display advertising and search engine marketing (SEM) advertising technology company.
The domain names specialist said it will acquire Wando for an initial consideration of €5.4mln (£4.7mln) which will be paid with the proceeds from its recent bond placement and is expected to close today.
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CentralNic also said that under the terms of the agreement, Wando’s sellers may earn up to another €5.4mln, payable in the third quarter of 2022, subject to stretched performance targets being met.
Wando delivered revenues of €4.9mln (£4.2mln) and earnings (EBITDA) of €1.2mln (£1.04mln), with CentralNic saying it expects to grow the company’s sales through closer vertical integration.
“We are excited by the vertical integration that this acquisition brings. Wando provides us with a new platform, expert staff, and a growing, profitable extension to our existing business and we expect it to bring accelerated growth and augmented margins for our fast-growing monetization business”, CentralNic chief executive Ben Crawford said in a statement.
Shares in the company were steady at 94.3p in early deals on Monday.