Reglikedomain industry desk

CentralNic purchases advertising firm for up to €10.8 million

CentralNic purchases advertising firm for up to €10.8 million

Firm adds to its online advertising portfolio.

Logo for Wando internet solutions

We knew CentralNic (London AIM: CNIC) was regarding to acquire another firm. Now we know what it is.

The firm disclosed 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 firm in the social marketing, display advertising and SEM advertising spaces. Its website is a bit cryptic, but it suggests the firm 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 firm outright.

CentralNic’s recent oversubscribed bond issuance was for €15 million, so it has some dry powder available for other modest acquisitions.

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