Acroud on Wednesday announced that it is considering a potential accretive acquisition within the affiliation and media space.
Without revealing the property it is considering, the company said the potential acquisition comprises of affiliation assets within the iGaming market.
In a statement, it said the company “continues to have an opportunistic approach to M&A in line with its strategic agenda and is now considering a potential accretive €5.5 million acquisition within the affiliation and media space, expected to contribute over €9 million to the company’s revenues and over €4 million to the company’s EBITDA annually.
Acroud’s management is of the view that the potential acquisition will be accretive for both equity and debt investors in the company as it will strengthen both profitability and cash flow while reducing its leverage going forward, which is in line with revised financial targets.
If the potential acquisition materialises, the transaction will see Acroud investing approximately €1million in shares and approximately €4.5million in cash, payable over a period of 18 months.
The cash payment is expected to be financed via Acroud’s existing cash and future operational cash inflow. The potential acquisition is subject to a final board approval and the parties entering into a definitive purchase agreement.
He has held senior positions in a range of renowned iGaming companies, including Evolution Gaming, Tain, NYX, and SG Digital
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Andrew, an accountant by profession and a certified public accountant, has a wealth of experience in the accounting field within the financial services and construction sectors