Better Collective Acquires AceOdds
In a deal valued at 42 million EUR, Better Collective, a digital sports media group, has fortified its position in the United Kingdom by acquiring the sports betting media brand AceOdds.
Strategic Expansion and Financial Enhancements
Ian Bowden, Senior Director UK & Ireland at Better Collective, expressed enthusiasm about the acquisition: “I am thrilled to announce the addition of AceOdds to the Better Collective group. This strategic acquisition brings us a robust owned and operated sports betting media brand in the UK market, poised for global scalability.”
Founded in 2008, AceOdds began as a user-friendly betting calculator for UK sports fans. Over the years, it has evolved into a revered platform offering a plethora of betting tools, odds comparisons, and live streaming schedules. The introduction of a popular app has further extended its reach and influence.
Enhancing Global Reach Through Local Expertise
The acquisition aligns perfectly with Better Collective’s vision of leveraging local expertise to scale operations globally. AceOdds’s strong UK market presence complements Better Collective’s strategy of owning a diverse range of sports media across key regions.
This includes traditional sportsbook comparison brands and extends to general sports media and content creators like podcast producers.
Highlighted Synergies and Transaction Details
The transaction involves a payment of 36 million GBP, approximately 42 million EUR, financed by 40 million EUR in cash and the remainder through Better Collective shares.
This strategic move is expected to not only expand AceOdds’s audience but also integrate significant resources into product enhancements and SEO competencies.
Upgrade of 2024 Full Year Financial Targets
Following this acquisition, Better Collective has updated its 2024 financial targets, now expecting revenue of 395-425 million EUR and an EBITDA of 130-140 million EUR.
