Perform buys up two online sports firms

Perform Group, the FTSE 250 digital media firm specialising in sports content, has announced two separate investments which will see it take full control of two online sports firms.

Firstly, Perform says it has acquired the remaining stake in Dutch company Global Sport Media (GSM) BV in a deal worth €4.3m.

This transaction relates to an option to acquire a 49% stake in firm which was agreed on when the initial 51% interest was acquired in January 2009. GSM owns and rungs soccerway.com, a football information website.

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"We are delighted to have completed the acquisition of GSM and look forward to continuing its growth in the sports data and sports website fields," said Perform Chief Executive Officer Oliver Slipper.

Secondly, Perform said it is to take full control of WatchandTrade Ltd for an £0.55m initial cash consideration.

Perform will acquire a further 40% stake in the WatchandTrade, the live sports video content company, following the 60% interest it acquired in January 2010. There is a maximum deferred cash consideration of £5.85m payable but this is dependent on WatchandTrade's earnings results for 2011, 2012 and 2013.

"We are delighted to have completed the acquisition of WatchandTrade and we look forward to continuing its successful growth," Slipper said.

BC