51% Stake in Turkish Digital Sports Company Purchased by Perform Group


Companies sign GBP 14.6 Million worth deal

According to the company statement given on Friday, Perform Group had acquired a 51% stake in Mackolik Internet Hizmetleri Ticaret A.S. (Mackolik), Turkish digital sports company, for a cash consideration of TRY 40.8 million (GBP 14.6 million).

The deal is based on an agreed ten times multiple calculation of the full year audited EBITDA results of the business for the year ending 31 December 2012.

The remaining 49% will be acquired by Perform for cash on the basis of an agreed ten times multiple calculation of the average full year audited EBITDA results of the business for the years ending 31 December 2014 and 2015 weighted 25 percent and 75 percent respectively, with maximum additional consideration payable in March 2016 of up to GBP 60.4 million.

Perform presented Mackolik as the market leader in digital sports media in Turkey operating ten sports internet portals including the country's top two most visited sports websites mackolik and sahadan.

'We continue to execute our strategy of augmenting our strong organic growth with selective acquisitions and are delighted to have announced the acquisition of Mackolik. Turkey is a hugely exciting opportunity for Perform, given the rapid growth in online advertising and internet usage and its young and growing population. Within this important geography, Mackolik is the clear market leader with a fantastic portfolio of websites and content," Oliver Slipper, joint chief executive officer of Perform said.

Designed as a mix of original sports editorial content, live scores and social features, each website is accessible from both desktop and handheld devices.

The acquisition deal on behalf of Mackolik was signed by the two founders and three private investors. Mackolik's founders Erdem Yurdanur and Tarkan Onar will keep the positions of chief executive officer and chief operating officer respectively as well as the remaining 47 percent of shares in the business. The three private investors intend to withdraw from the venture.

'We believe that working with Perform will enable us to accelerate Mackolik's development and take full advantage of the numerous opportunities present in our market, particularly in relation to sports video, editorial and data content," said Erdem Yurdanur, chief executive officer of Mackolik.

On another occasion, Perform representatives stated the company remains on track to deliver strong revenue and EBITDA growth for the full year in accordance with Board expectations.

Sports Society News General Sportsbook News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

5mins ago someone from us flag United States read article No Betting Operators as Skiing Title Sponsors, says ISF

Sports Community

Share this page on:
Follow LSB on:
Follow LSB

Join Now for full access

In the last 24h

Totals

  • New Members
    5
  • Members Online
    14
  • Guests
    861



eighteen plus only

Follow LSB on Facebook Follow LSB on Twitter Follow LSB on Pinterest Follow LSB on Google plus