XLMedia buys cyber security comparison site for $2m

Performance marketing company XLMedia announced the acquisition of Securethoughts.com, a US-based cyber security comparison website, for a total cash consideration of $2m on Tuesday.

The AIM-traded firm said the acquisition was expected to be immediately earnings-enhancing post its completion in the third quarter of this year.

XLMedia said cyber security was an area increasing in prominence and interest, and had been identified by management as a growth vertical for the group.

Securethoughts represented XLMedia's first significant publishing asset in the sector, with the board claiming it would strengthen the group's activities in North America as well as further diversifying XLMedia's revenue into non-gaming sectors.

Growth in the global cyber security industry was being driven by individuals, businesses and governments seeking to counteract the increasing threat of cybercrime, the board added.

Securethoughts provided visitors to the site with information, advice, guides and support to help protect their digital communications, actions and discussions.

“We are delighted to announce the acquisition of Securethoughts, our first and significant publishing asset in the fast growing cyber security sector,” said XLMedia CEO Ory Weihs.

“Securethoughts represents another excellent opportunity for XLMedia to increase its North American presence, diversify its revenues and establish a foothold in another vertical.

“This acquisition is a further step in executing our successful strategy of diversifying our activities and expanding into additional markets and geographies.”