Raketech Acquires P&P Vegas Group Including Feature Site PicksAndParlays.com
Raketech, one of the fastest-growing content marketing companies in the world, has announced the acquisition of P&P Vegas Group. There are hopes that this acquisition will deliver growth in key markets around the globe.
Details of the Acquisition
Raketech is powerful in Europe, but the company is expanding its presence in the United States. The acquisition will help its growth in American markets. The United States has a surging sports betting economy that is growing by the day.
If Raketech can break into the United States sports betting market, it will be very lucrative for the global conglomerate. The deal includes assets like PicksAndParlays.com and all assets from QM Media AB.
In addition to expanding into the United States, Raketech will also gain traffic from India. The deal includes all assets from QM Media AB, including the cricket betting website Onlinecricketbetting.net, which will help it grow its Indian market.
Raketech expects its revenue to double in the United States and Indian revenue to rise 5% to 10%. With the United States sports betting market, wagering will be 30% of the company’s quarter four revenue.
The price of the acquisition was $19 million. It will be split between cash and stock options at closing. Raketech will owe $3,881,968 shares to the owners of P&P Vegas Group.
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Raketech CEO Oscar Muhlbach said, “With these acquisitions, we are delivering on several strategically important goals; significant sports revenues, revenues from high growth markets, boots on the ground in the US, and asset diversification and new revenue streams.
He went onto say, “Furthermore, by adding such a strong brand like PicksandParlays, Raketech will be able to add significant value to the US business through the implementation of the affiliate marketing sales in all licensed states. And with the talented and committed team that comes with the acquisition, I am very much looking forward to having them join forces with our central operations team to accelerate growth even further.”
QM Media was excited about the acquisition because it will help the team grow its content. The media company will be given resources thanks to the power of Raketech. As Raketech shareholders, it’s in QM Media’s best interest to continue working hard on its content.
QM Media CEO Marcus Egstam said, “By partnering with Raketech, we gain access to their well-established infrastructure that will help leverage our strong brands and market positions. We are enthusiastic to become shareholders in Raketech and to be a part of the exciting future we have planned.”
The United States sports betting industry is going to drastically change because of the acquisition.