by Noyan Ayan on August 31, 2012
Perform Group plc, the global leader in digital sports content and marketing, has acquired 51 percent of Mackolik İnternet Hizmetleri Ticaret A.Ş., which owns 10 sports websites, including two of the leading Turkish sports websites Mackolik.com and Sahadan.com. With this acquisition, Mackolik.com‘s total valuation was specified as 80 million lira.
Perform Group pls has paid 40.8 million lira for 51 percent shares, in cash. It has been stated that the company will acquire the remaining 49 percent shares in March, 2016.
Perform Group had announced that it aimed to enter into global growing markets during its IPO. Turkey is one of the most fast growing Internet markets in Europe.
The amount to be paid for the acquisition of 49 percent in March 2016 will be measured at 10 times of the earnings of Mackolik.com by the end of 2014 and 2015 December before taxes and amortization, while it will be weighted at 25 percent of 2014 figures, and 75 percent of 2015 figures. In the contract it is also stated that the total amount will not exceed 215 million lira (by current exchange rates).
Mackolik and Sahadan’s Stats
The information Perform gives for Mackolik are very interesting. Monthly unique visitor counts for mackolik.com and sahadan.com, which are the most visited sports websites in Turkey, are 7.8 million and 8.5 million respectively. These figures are 5.7 million and 6.9 in 2011, which shows 37 percent and 23 percent growth.
Advertising and subscription revenues of Mackolik are 6.6 million lira by December 2011, while its operational income is 2.4 million lira.
Turkey is also highlighted
Perform also highlights that Turkey is the 6. largest economy in Europe and there are nearly 30 million internet and 21 million 3G subscribers in Turkey. It is also stated that online advertising expenses will increase by 27 percent per annum between 2011 and 2016, while the fact that Turkey is the second most crowded country in Europe and 51 percent of the population is under the age 30, are elements that have driven the acquisition.
Perform aims to increase its earnings in and after 2012 as it has acquired a local leader, while its own professional team will be influential for its success.
2 founders and 3 investors
Maçkolik had 2 founders (Erdem Yurdanur and Tarkan Onar) and 3 investors (Namık Kural, Şefik Sertel, Cahit Güvensoy). Erdem Yurdanur says that three founders have sold all of their shares with contract, while Yurdanur and Onar continue to hold 47 percent shares. While Perform has 51 percent of the company, Odin Financial Advisors has 2 percent.
Update: We have learned that Mackolik.com is represented by Çalışkan & Kızılyel law firm during the acquisition process.