Online affiliate Raketech has agreed with the former owners of Casumba Media to discharge the remaining earnout from its 2019 acquisition for €8.2m ($9.2m).
Around €20.3m was payable under the existing terms, including accrued interest, putting the agreed reduction at approximately €12.1m.
The parties have signed the agreement and Bank of Valletta has approved financing. Raketech said the settlement will become final only when the lender releases the funds. Until then, the earnout remains outstanding.
An earnout is an additional purchase payment linked to an acquired business's performance. Raketech bought Casumba in August 2019. In May 2025, it moved the deadline for the remaining payments from September 2026 to March 2028 and removed the option to settle them in shares.
The liability stood at €21.3m on 30 June 2026. Raketech has since paid €1.3m, while interest has continued to accrue. The new agreement would end the remaining obligation to Casumba's former owners once the full settlement amount is paid.
This obligation is separate from Raketech's September 2025 sale of the Casumba assets. The buyer agreed to pay €12m in monthly instalments through December 2029, with 8% interest.
Approximately €11m in principal, plus interest, remains due to Raketech. That receivable is unaffected by the proposed settlement and will serve as security for the bank facility.
The €5.5m financing package comprises a €3.5m three-year term loan and €2m drawn from an existing credit line. Raketech expects to contribute a net €2.7m in cash. Following completion, it estimates that net interest-bearing debt will fall by approximately €12m.
Raketech expects to record a significant one-time, non-cash gain in Q4 2026. It would be recognised below operating profit and would have no effect on EBITDA. The company said bank interest would amount to around €0.4m in the first year, compared with €0.9m of earnout interest recorded in H1 2026.
If the bank has not released funding by 31 December, quarterly earnout payments will resume. Individual sellers could terminate the new terms if funding is still unavailable by 31 March 2027.
An April Global Gaming Insider report on Raketech's Q1 results recorded a €0.6m Casumba earnout instalment and approximately €0.7m received from the asset sale.
Raketech board member Magnus Alebo has a beneficial interest in one of the sellers and did not participate in the board's decision on the agreement
