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.
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.
-
Jeremy Hunt: Tech and defence will make Britain great again - investors should stay or risk missing outFor investors shifting away from the UK, tech and defence may well be opportunities worth staying for, the former chancellor Jeremy Hunt says.
-
Can the House of Lords change the government’s mind on controversial inheritance tax reforms?The House of Lords has launched an inquiry into inheritance tax changes on pensions and agricultural property relief - can the government’s plans be stopped?
