ZEAL Network SE Expands into UK with SevenCanyon Acquisition

ZEAL Network SE has announced its acquisition of SevenCanyon Limited, securing 96.5% of the company's shares. This strategic move allows ZEAL, based in Hamburg, to enter the UK prize draw market, where SevenCanyon is already established. This expansion is set to enhance ZEAL's geographic reach and market presence.

The total purchase price of GBP 33.8 million is accompanied by potential additional payments of GBP 4.8 million over six months, contingent on specific financial goals. ZEAL anticipates this acquisition to bolster its revenue and EBITDA. An updated financial outlook for SevenCanyon's revenue contribution will follow the finalization of IFRS presentation.

The company also expects a positive EBITDA impact, with projections in the high-single-digit millions of euros for the next full financial year, post-transaction completion.