Danish sportsbetting analytics firm Better Collective A/S has announced the signing of an agreement worth up to €44 million ($51.7 million) that will see it purchase iGaming lead generator Atemi Group.
The Copenhagen-headquartered firm used an official press release to detail that the arrangement is to involve its immediate surrender of approximately €30.6 million ($36 million) in cash alongside shares worth roughly €5.2 million ($6 million) before the remaining €8.2 million ($9.7 million) in compensation is disbursed via instalments over the course of the next five quarters.
Better Collective A/S develops digital platforms for betting tips, bookmaker information and online gaming communities and described Atemi Group as ‘one of the world’s largest companies specialized within lead generation for iGaming through paid media and social media advertising.’ It stated that the transaction represents ‘a major strategic move’ that is to allow it to exploit ‘significant synergistic opportunities’ so as to obtain ‘additional channels of traffic sourcing high-intent customers at a large scale.’
Jesper Sogaard, Chief Executive Officer for Stockholm-listed Better Collective A/S, used the press release to declare that the acquisition ‘is a very important step’ for his firm at it endeavors to become the world’s ‘leading sportsbetting aggregator’ and will immediately place the operation ‘in the absolute leading position when it comes to customer acquisition for the online operator.’
Read a statement from Sogaard…
“Atemi Group has been on an impressive growth journey since it 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.”
Better Collective A/S additionally pronounced that Atemi Group is on course to send about 180,000 new depositing customers to its own global range of partner iGaming operators this year and had earlier set a minimum annual revenue target of €40 million ($47 million) after its receipts for 2019 rose by some 70% year-on-year to top €33 million ($38.8 million).
Sogaard’s statement read…
“With an estimated annual new depositing customer level of more than 600,000 and from a financial perspective, Better Collective A/S will take a leap of having estimated pro forma annual revenues of more than €120 million ($141.1 million) with high operational earnings and cash flow.”