Raketech Group’s performance marketing specialist is to expand into the Japanese market through Casumba Media’s € 2 m takeover. Raketech has agreed to pay € 2.0 m (£ 1.8m/$2.2 m) to buy all outstanding stocks in Malta-registered Casumba, which operates a range of Japanese subsidiary companies. The arrangement also involves extra compensation for earnings depending on some efficiency measures. Part of this earnings will be capped at € 2.1 million until 31 December 2021, while the uncapped portion will be based on future results until 31 July 2024.
With the release of its products in Japan and potentially other Asian markets in the longer term, Casumba’s creators will proceed to engage with the company and promote Raketech. Raketech said the purchase would assist boost its income outside the Nordic region to about 10 per cent of the total group. Chief executive of Raketech, Michael Holmberg, told reporters that their latest deal is another milestone in the history of the company, and is in line with their plans of growing into new industries. He added that they are looking forward to working with the Casumba group to create and distribute new products, and to release new content on a long-term basis.
In the second quarter of 2019, Raketech recorded a 6.1 per cent year-on-year decline in income, although decreased expenses saw a significant rise in its profit over the era. Revenue amounted to € 5.7 million for the three months to 30 June, down from € 6.0 million in the previous year, but operating profit rose 29.3% to € 2.0 million.
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