Digital sports content distributor Perform Groupis to buy German sports media company Sportal.
Perform is buying the firm, which provides a range of content, production and technology service to German and Swizz media, from its private owners.
The company did not say how much it was paying but in 2011 Sportal reported revenues of €1.4m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Gross assets at at the end of the year were €0.4m.
Perform said the acquisition would build on its presence in the German market, having acquired Spox.com and mediasports at the end of 2011.
Sportal.de has an average of 800k unique sports fans visiting the site every month and will be integrated into the mediasports advertising network, taking its reach to over 8m unique users every month.
Perform's Joint-CEO, Oliver Slipper, said his firm saw some great opportunities in one of the largest digital economies in Europe.
"Sportal has a heritage of providing great content to German fans and the acquisition takes us a step closer to consolidating our position as the leading digital sports advertising platform in market," he said.
-
HMRC savings tax crackdown: More workers to pay tax directly from their wagesBanks and building societies will be required to obtain National Insurance numbers from savers to make it easier for HMRC to tax those who breach their personal savings allowance
-
It’s time to start backing the UK stock marketThe UK stock market has been languishing for decades. But the tide is turning and smart investors should buy in now
