XLMedia, the Jersey-based online gambling firm specialising in digital marketing services, has expanded its growth strategy with the acquisition of an as yet unidentified large Scandinavian affiliate marketing company – and its player database – for a consideration of $2.3 million.
Speculation is that the acquisition is a Danish company, giving XL access to that burgeoning online gambling market.
Through some savvy partnerships XL has a growing presence in both the Nevada and New Jersey online gambling markets in the United States following its IPO on London’s AIM market earlier this year (see previous reports).
Chief executive Ory Weihs says the company’s aggressive expansion strategy will continue, with management seeking out further online gambling assets for acquisition as the group builds a high profile as a digital marketer in regulated markets.
“This acquisition represents a complementary fit for our business, strengthening our reach in Scandinavia and providing entry into Denmark, a fully regulated territory,” he said last week.
XLMedia was created through the merger IN 2008 of two Israeli companies: WebPals, founded by Yaron Nahari and Assaf Levy in 2007; and Traffic, founded by Ory Weihs. Former Ladbrokes CEO Chris Bell is the chairman.