Company adds to its online advertising portfolio.
We knew CentralNic (London AIM: CNIC) was about to acquire another company. Now we know what it is.
The company announced today that it is acquiring Wando Internet Solutions GmbH. CentralNic will pay €5.4 million upfront and up to another €5.4 million in Q3 2022, depending on performance.
CentralNic describes Wando as a company in the social marketing, display advertising and SEM advertising spaces. Its website is a bit cryptic, but it suggests the company operates comparison websites.
More than half of its FY2020 revenue of €4.9 million came through the CentralNic distribution network, the release states. CentralNic expects to be able to increase its revenue by owning the company outright.
CentralNic’s recent oversubscribed bond issuance was for €15 million, so it has some dry powder available for other small acquisitions.