Catena Media has engaged Carnegie Investment Bank to serve as its financial consultant. This action follows the company’s exploration of strategic alternatives, including conversations with entities expressing interest in purchasing some or all of Catena Media’s holdings.
Catena Media first revealed a strategic evaluation in May 2022, with the goal of simplifying processes and concentrating on the fast-growing North American market. As a result, the company began looking for buyers for specific assets, and it now appears that there is interest in acquiring the entirety of Catena Media’s remaining portfolio.
Although the company has not yet received any official bids, this development implies that a sale is a possibility. It’s noteworthy that this all started shortly after Catena Media announced record-breaking quarterly earnings, implying that this could be a strategic move for expansion rather than a response to financial difficulties.
Catena experienced a robust beginning to the year, generating €5 million in earnings during the initial quarter. This signifies an 11% surge in contrast to the corresponding timeframe last year.
The organization has been undertaking significant actions recently. In August, they declared a thorough evaluation of their European activities. Further amplifying the excitement, just last month Catena secured a substantial agreement with Gaming Innovation Group (GiG), divesting a portion of their partner websites. This encompasses prominent names such as Askgamblers.com, Johnslots.com, Newcasinos.com, and a handful of smaller entities, for a considerable sum of €45 million.
