Industry affiliate marketing publisher XLMedia has recruited Akur Capital as corporate finance advisor, tasked with leading the sale of its majority Finnish market-facing casino assets and further publishing websites.
The Finnish sell-off forms part of XLMedia’s transformation program, led by new CEO Stuart Simms in which the London AIM firm seeks to ‘refine its publishing portfolio, refocusing on regulated high-potential markets’ including the US.
Updating investors, XLMedia stated that proceeds generated from disposals will be used to accelerate the publisher’s new strategy of acquiring and developing ‘content rich’ sites for regulated marketplaces.
In its corporate filing, XLMedia underlined the company’s new strategic goals, with the aim of ‘consolidating publishing assets’, focusing on the development of premium sites supported by better technologies, stronger partnerships, deeper content and clearer brand affiliation.
XLMedia’s new corporate strategy identifies North America as the firm’s target market, in which the company has an established presence in the personal finance publishing segment. The company will look to significantly increase investment in US Sports market opportunities.
Simms commented: “XLMedia has set out a clear transformation strategy to deliver the next phase of growth. We have already made significant progress with reshaping the organisation, reducing our cost base, strengthening the leadership team and building our core people skills and technological expertise.
“The sale of our Finnish-facing casino assets will reduce the reliance on unregulated markets and accelerate the delivery of our strategy, providing additional capital for the acquisition of attractive assets in regulated and high growth markets, such as the burgeoning US sports market.”