The leading European affiliate company RakeTech Group has officially confirmed that continues its expansion in the Scandinavian market through the acquisition of some Agonas AB and Astro Media Group AB assets. It was only at the beginning of February 2017 when the award-winning affiliate managed to secure substantial funding in order to help it consolidate its position as one of the fastest-growing affiliates not only in Europe, but also on a global scale.
As revealed by the company at the beginning of February, a total of €70 million in funding were secured for the upcoming market expansion. At that time, RakeTech Group revealed that the funding consisted of a committed loan facility estimated to €40 million, and the remaining €30 million were uncommitted loan facility from a major investment fund.
At the same time, RakeTech has revealed that it aims to make certain changes to its management structure. First, Michael Holmberg who had been serving as a Chief Executive Officer of the holding company Gameday Group, has been appointed as a Group’s Chief Executive Officer. The company also preferred to strengthen its senior management team by adding Anna Nilsson as a Chief Financial Officer in May.
Now, the company has announced the acquisition deals of Agonas AB and Astro Media Group AB as part of its efforts to expand further and become the largest affiliate company worldwide. As revealed by the company itself, the acquisition of Agonas AB also includes the acquisition of a number of top Nordic sports TV websites. On the other hand, the takeover of Astro Media Group assets also includes the acquisition of a number of top Swedish casino affiliate websites.
Both deals are considered part of the affiliate’s strategy to grow further and establish itself as a provider of qualitative casino and sports betting content.
As mentioned above, Agonas AB operates a whole network of sports media websites focused on providing real-time TV listings and supporting media content for customers in Denmark, Norway and Sweden. On the other hand, the Astro Media Group AB is also to be acquired in order to help RakeTech further strengthen its positions in the affiliate market of Sweden. The deal would also include a number of casino affiliate websites and an entire network of more than 100 additional websites.
As commented by the company’s Chief Executive Officer of RakeTech Michael Holmberg, the affiliate company remained focused on expanding its reach worldwide by diversifying its businesses. Apart from that, such an acquisition spree would help it enhance its leading positions and even set foot in some new markets.
This is not the first acquisition made by RakeTech since the beginning of 2017. At the beginning of April, the company revealed that it had acquired two leading Danish and Finnish affiliate platforms – BetXpert.com and Turtle Gaming. BetXpert.com has been considered as one of the top betting platforms, while Turtle Gaming was known as a leading gambling affiliate company. The addition of the brands bolstered the sports betting offering of RakeTech and helped it expand in Denmark and Finland.
- Author
Olivia Cole
