BUSINESS

Imperus acquires Akamon to boost Latin American footprint

TAGs: akamon entertainment, imperus technologies, social gaming

imperus-acquires-akamon-to-set-footprint-in-latin-americaFollowing its acquisition of Diwip, Imperus Technologies is set to acquire social gaming company Akamon to boost its presence in Latin America.

Imperus announced Tuesday that it has signed a binding option agreement to acquire Akamon Entertainment Millennium for $25.6m in cash and stock.

Akamon has received $600,000 cash as a non-refundable deposit with an additional $22.2m cash payable on the closing date October 22. The remaining $2.2m shall be paid in Imperus securities to certain Akamon shareholders after the closing date.

According to Imperus, the acquisition will make the company a top-tier operator in the social casino sector, with forecasted 2016 revenue of between CAD70 million to CAD75 million and adjusted EBITDA of between CAD25 million to CAD30 million.

Akamon, which attracts more than 450,000 users daily and has a 25 million user database, will help Imperus to expand its presence in Brazil, Mexico, Spain, France and Italy; countries where Diwip currently has very little presence.

“With virtually no overlap of customers between Diwip and Akamon, Imperus will have the opportunity to cross-sell its products to a much larger audience and leverage the infrastructure of both companies to accelerate growth almost immediately,” said Imperus CEO Daniel Kajouie.

“To me, as CEO and Co-Founder of Akamon, the acquisition of Akamon by Imperus is a game changer. The opportunities in front of us are immense: The transition to mobile in Akamon´s core regions represents in itself a value multiplier of the already exceptional performance of Akamon in Southern Europe and Latin America,” said Akamon CEO Vicenc Marti. “Imperus, with its other assets, especially Diwip, with whom we will focus in maximizing synergies, will accelerate our plans. Latin America is the fastest-growing smartphone region in the world and craved by the entire social casino gaming community, and along with Imperus, we plan to capitalize on that trend.”

The deal is still subject to approval for certain conditions such as financing, regulatory and administrative agent for the debt lenders to the company.

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