Online media and publishing specialist XLMedia (XLM) has continued its strategic expansion into North America with the acquisition of www.Moneyunder30.com, a US-focused price comparison website. Investors were impressed with the $7m (£5.4m) purchase, which has been paid for out of the group’s ample cash supply and is expected to be immediately earnings enhancing.
Aside from expanding its geographical presence, recent acquisitions have helped add partner companies – whose products XL advertises through its growing portfolio of websites. Historically these have been mainly gambling companies, but more recently the group has expanded into financial services and cyber security. Meanwhile, a growing proportion of XL’s revenue is coming from ‘performance’ payments, where the partners pay a share of the revenue they receive from each new client.