SBC News Voice of the Sports Betting Industry
Having completed a strategic corporate review, the board of XLMedia has concluded that the company will continue to operate as independent enterprise, scrapping any plans of selling its business or assets.
The governance of the London AIM-listed company stated that it believed that in remaining independent it would best serve its goal of “maximising value for shareholders”.
Following a record breaking 2015 performance which saw the industry marketing specialist post a full-year EBITDA of $28 million. XLMedia governance would announce a strategic review in January stating that it would consider all options available including; “acquiring or merging with another business, raising money from a third-party investor, or selling the company”.
Updating the market, XLMedia governance declared that it would continue to evaluate its position along with any potential acquisition opportunities which may be presented.
Releasing a short statement, XLMedia Chairman Christopher Bell commented on the matter:
“Having now undertaken a very thorough strategic review, the board has concluded that the best prospects for the business and maximising shareholders’ value are though remaining an independent company on AIM.
“We are focused on ensuring we maintain our market leading position, delivering a best in class service to customers whilst attracting the best people in the industry. Being a quoted company provides the best platform to deliver on that commitment and our recent full year results with record revenue and pretax profit growth support this decision.”
