Affiliate giant XLMedia acquired online US college football news publisher Saturday Football for a total consideration of $23.0m (£16.7m/€19.4m).
XLMedia agreed to pay $11.0m up front and the remaining $12.0m over three years, while the founders of Saturday Football will also receive $1.0m in long-term incentive shares of XLMedia.
Saturday Football founders Josh Gates, Kevin Duffey and Jonathan Cooper will be retained in the business and each given shares worth $333,333.33 each. The share awards will become fully vested on the fourth anniversary of the date of the grant.
The acquisition, XLMedia said, will allow it to access the US college football marketplace to complement its existing US sports betting vertical, supporting its strategy of increasing its presence high growth regulated markets.
XLMedia also said it would leverage Saturday Football’s key brand sponsorships and benefit from established social media, video and content production, and programmatic AdTech capabilities, creating cross marketing opportunities for the wider group.
