North Star Network continues M&A spree with Bojoko acquisition
Undisclosed transaction worth up to 4.5x of Bojoko’s expected 2025 adjusted EBITDA if performance targets are met
North Star Network (NSN) has acquired fellow affiliate Bojoko in a bid to bolster its presence in online casino affiliation after a series of acquisitions in 2024.
This latest deal, which concluded on 14 February, resulted in NSN snapping up all of Bojoko’s assets, with the transaction structured using both upfront and earnout payments.
Though the exact fee has not been disclosed, NSN will pay at least 3x and up to 4.5x the value of Bojoko’s 2025 adjusted EBITDA figure, depending on future performance.
Founded in 2017, Malta-based Bojoko has established itself in both the UK and Canada. Initially focused as a casino-only affiliate, Bojoko has since expanded into sports betting and bingo.
A former EGR Power Affiliate, Bojoko, also previously operated in the Nordics, and at one time held state licences to launch affiliate services in the US.
NSN bosses claim the acquisition will allow both companies will be able to “expand their reach, enhance their services and provide even more value to users in key markets”.
Bojoko CEO and co-founder Joonas Karhu will continue to lead the company under NSN’s ownership, the firm added.
The addition of Bojoko to the NSN portfolio comes after the French affiliate acquired five companies last year, including a seven-figure deal for SportsMole.co.uk.
NSN, which has a presence in more than 30 countries, also swooped for Latam-facing AlAireLibre, UK brand MrFixitsTips, Brazilian site Um Dois Esports and Nigerian football platform Soccernet.ng.
Julien Josset, co-founder and CEO of North Star Network, said: “We are thrilled to welcome Bojoko into the North Star Network. Bojoko has built an excellent reputation in the industry for its user-driven approach, commitment to true quality and innovative platform.
“This acquisition aligns perfectly with our vision to expand our influence in the igaming industry, giving us an instant footing in the casino vertical.
“Bojoko’s casino knowledge is almost unparalleled, and we could not be more excited about the future. Together, we plan to expand Bojoko’s reach internationally, creating even more value for players and partners alike.”
Karhu added: “This is a monumental step forward for Bojoko. Since day one, our goal has been to empower players with expert insights and easy tools that allow them to make informed choices.
“With North Star Network backing us, we’re now in a position to enhance our solutions, expand and bring our expertise in the online gambling space to new audiences worldwide. This partnership opens the door for unprecedented growth and innovation.”