Last checked at 
(Alliance News) - B90 Holdings PLC on Wednesday said it will acquire Swedish marketing company Emwys AB for EUR3.6 million from Funko International AB.
The online marketing and operating company for the gaming industry said it will pay an immediate EUR500,000 in cash and EUR250,000 in convertible loan notes.
The remainder of the consideration will be paid upon completion, with EUR1.25 million satisfied in cash and EUR1.6 million in CLNs or the issue of new shares in B90.
Emwys is a marketing company that specialises in pay-per-click marketing in the online gambling industry.
B90 and Funko have also agreed on a short-term associate license and marketing agreement regarding Emwys' use of Funko's Google advertising account.
B90 said the acquisition will allow it to "enhance its marketing capabilities and generate future revenue through strategic affiliate partnerships".
The transaction is expected to close by September 1.
Looking forward, the firm said it plans to expand Emwys from Finland into new territories, as well as drive traffic and boost revenue for its accounts.
Chair Ronny Breivik commented: "The acquisition of Emwys presents substantial opportunities for B90. It is a step change for our business both in terms of scale and operations. By acquiring new knowledge and investing in this proven marketing concept, we aim to drive strong revenue growth whilst continuing to generate profits from our existing marketing operations.
"This is an important first step in our 'buy and build' M&A strategy. We will seek to scale our business rapidly by following a strategic and deliberate approach to actively pursue selective acquisitions and other opportunities, such as entering license agreements with businesses in our sector which seek operational know-how and distribution capabilities."
B90 shares rose 4.1% to 7.60 pence each on Wednesday afternoon in London.
By Harvey Dorset, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
