XLMedia PLC XLMedia extends reach into Romania
May 10 2017 - 1:00AM
RNS Non-Regulatory
TIDMXLM
XLMedia PLC
10 May 2017
For immediate release 10 May 2017
RNS Reach
XLMedia PLC
("XLMedia" or "the Group" or "the Company")
XLMedia extends reach into Romania
Award of affiliate license in Romania and completion of first
acquisition of Romanian publishing assets
XLMedia (AIM: XLM), a leading provider of digital performance
marketing, is pleased to announce that it is commencing activities
in Romania. The Company has been granted a Class 2 License from the
Romanian National Gambling Office allowing it to operate as an
online gambling affiliate. Following the license award, XLMedia has
completed its first acquisition of publishing assets focused on
Romania.
In May 2015, the Romanian regulator introduced strict gambling
regulations whereby online operators and related service providers,
both domestic and international, are required to be fully licensed
in order to operate in the region. The license granted to XLMedia
enables it to advertise locally licensed online gambling operators,
which include many of the Company's existing clients who are
present in Romania.
Following the license process, the Group actively identified
potential acquisition targets and today announces the acquisition
of a portfolio of websites offering online betting and gambling
content, including www.ponturi-bune.ro, for a total consideration
of approximately $1.0 million.
The award of the license followed by the acquisition in Romania
is further proof of XLMedia delivering on its stated strategy to
diversify its geographical reach with strong presence in regulated
markets. XLMedia will continue to operate its performance based
model in Romania, to ensure the Company is aligned with its
customers in delivering the most valuable end users.
Ory Weihs, Chief Executive Officer of XLMedia, commented:
"We are delighted to have been awarded a licensed gambling
affiliate status in Romania. Many of our clients are already
present in this market, hence it is important for us to extend our
services to include Romania. Our recent acquisition is a first step
in this market and we anticipate to grow in the near term through
increased investment in the region in both the publishing and media
divisions."
For further information, please contact:
XLMedia plc Ory Weihs www.xlmedia.com Tel: 020 8817 5283
Vigo Communications Jeremy Garcia Tel: 020 7830 9703
/ Fiona Henson www.vigocomms.com
Cenkos Securities plc (Nomad Tel: 020 7397 8900
and Joint Broker) Ivonne Cantu
/ Camilla Hume www.cenkos.com
Berenberg (Joint Broker) Chris Tel: 020 3207 7800
Bowman / Mark Whitmore / Amritha
Murali www.berenberg.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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