Raketech completes $15.5m ATS Consultants acquisition
| By Robert Fletcher
Affiliate business Raketech has announced that it has completed the acquisition of US-facing tipster ATS Consultants.
First announced last month, the agreed purchase price for the deal was $15.5m on a cash and debt-free basis, with $12.0m of this being paid in cash on closing and a further $1.0m six months post-closing.
The remaining $2.5m will be settled through the issuance Raketech shares with a 36-month lock-up period.
Raketech will now integrate all of ATS Consultants’ assets and liabilities, including websites Winnersandwhiners.com, Statsalt.com and Pickpapa.com, together with the tipster’s roster of employees.