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.
The visit was requested by the Malawian regulatory authorities
The supplier will also embark on a recruitment campaign to bolster its ranks in one of the region’s most important gaming hubs
The jurisdiction’s gambling community has expressed dismay at its inclusion in the list of countries under increased monitoring
The partnership is the latest in a string of significant deals that Bragg has signed in the fledgling jurisdiction