Sports betting media group Better Collective has completed the acquisition of the Atemi Group, one of the leading companies specialised within lead generation for iGaming through paid media (PPC) and social media advertising.
The purchase price has been agreed to 40 million GBP (approximately 44 million EUR) of which 32.5 million GBP is paid upfront at closing in a combination of 27.8 million GBP in cash and 4.7 million GBP in Better Collective shares from the treasury shares holding. The remaining 7.5 million GBP will be paid in equal quarterly deferred payments until the end of 2021.
“This acquisition is a very important step for us to reach our strategic target of becoming the leading sports betting aggregator in the world. Atemi Group has been on an impressive growth journey since the company was founded in 2015, and has reached the large scale it takes to be competitive and profitable within paid media. We see many opportunities for expansion into new markets and for harvesting synergistic effects between our assets and competences. The acquisition will immediately bring Better Collective in the absolute leading position when it comes to customer acquisition for the online operators, with an estimated annual NDC level of more than 600.000, and from a financial perspective Better Collective will take a leap of having proforma annual revenue of estimated more than 120 million EUR with high operational earnings and cash flow,” Jesper Søgaard, CEO of Better Collective, said.