XLMedia Company, a UK based digital marketing service provider has announced the acquisition of an unnamed Scandinavian website network. The sale cost XLMedia US$2.3 million and it is hoping that the acquisition will strengthen its presence in the gaming sector.
Ory Weihs, CEO of XLMedia said, “Since our IPO in March this year, we have continued to make good progress with positioning XLMedia to capitalise on the significant growth opportunities in the online gaming sector.”
Though the name of the Scandinavian company acquired by XLMedia remains undisclosed, it was revealed that the purchased network reviews poker and casino websites primarily in Denmark.
XLMedia’s acquisition is the first step towards an overall growth strategy and the company is hoping to continue to collect websites and domains in order to cement their presence in already regulated markets.
On its website XLMedia promises its customers a wide ranging service, “Our reach spans virtually every online medium, including owned and operated websites, pay-per-click (PPC) search, third-party publishers and opt-in email. As well as our in-house portfolio of over 2,000 sites and network of affiliates, we have established industry relationships which further widen our reach via third parties.”
Following the announcement XLMedia shares were trading at 56.28p, up 2.3%.