Digital media company Perform has struck a deal to acquire a majority stake in Mackolik Internet, which operates a number of Turkey’s leading sports websites, and complete a full buy-out of the company in 2016.
Perform has agreed to purchase an initial 51-per-cent stake in Mackolik for about £14.6 million (€18.25 million/$23 million) although the final price could be adjusted as it will be calculated in relation to the Turkish company’s earnings before interest, tax, depreciation and amortisation (EBITDA) for 2012.
Perform will then acquire the remaining 49 per cent based on further EBITDA
calculations for the years ending 2014 and 2015, with the final payment due in March 2016.
The Turkish company owns sports websites such as Mackolik.com and Sahadan.com.
In May, Perform reached a deal to purchase real-time sports information provider RunningBall.