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.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
