Stockholm-listed industry affiliate marketing network Catena Media Plc continues to diversify its services portfolio, confirming that it has acquired forex FX trading publisher LeapRate.com.
Updating the market, Catena governance details that the agreed deal will see the company pay an initial US $4 million ($2m cash + 2m share issue) transaction for LeapRate’s entire FX publisher portfolio.
Furthermore, Catena governance has enhanced the deal adding earn-out payment capped at a further $4 million, attached to the performance of LeapRate assets over an initial period of 12 months.
Confirming the deal Per Hellberg CEO of Catena Media stated: “This acquisition is in line with our strategy for growth and further establishes our position as lead generator in the financial vertical. We are very pleased to welcome LeapRate.com into the Catena Media family and look forward to helping the company realize its full potential.”
Operating since 2010, LeapRate.com is considered one of the internet’s leading FX authorities, reviewing trading software, FX exchanges, payment services, combined with market analysis, insights and news.
‘”LeapRate.com provides a well-known newsletter that is widely read among key decision makers in the industry. The acquired assets currently generate quarterly sales of about USD 360,000, of which a majority derives from fixed fees and advertising. The site is approved for Google News.” details Catena in its corporate release.
Catena governance has detailed that it will maintain LeapRate’s executive team to ensure a smooth transition of services.