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Danish sportsbetting analytics firm Better Collective A/S has announced the signing of a deal valued at around $240 million that is to see it buy prominent American sports wagering evaluation and media platform The Action Network.
The Copenhagen-headquartered firm used an official press release to declare that the arrangement is destined to give it ‘clear market leadership’ within the United States’ embryonic sportsbetting media and affiliation markets that could see its annual aggregated revenues increase by up to $100 million before the end of 2022.
Sector solidification:
Better Collective A/S develops digital platforms for the global betting tip, bookmaker information and online gaming communities and it stated that the purchase of The Action Network will moreover allow it to utilize ‘a number of strong product platforms’ in order to consolidate its ‘leading position in the affiliate and customer delivery verticals within online sportsbetting.’
Conspicuous consumption:
Widely seen as a direct competitor of Better Collective A/S, The Action Network offers sportsbetting aficionados a large array of news and analysis concerning a vast array of American sports including action from the National Basketball Association (NBA), the National Football League (NFL) and the PGA Tour. Also responsible for the Vegas Insider and RotoGrinders wagering and daily fantasy sports brands, the target is to be acquired for $228 million in cash as well as shares in its new parent worth in the region of $12 million.
Intrinsic ingredient:
Jesper Sogaard serves as Chief Executive Officer for Better Collective A/S and he used the press release to proclaim that The Action Network is now destined to become ‘an integral part’ of his firm’s overall operation post-deal despite being run as ‘a separate business unit’ under the continuing leadership of Patrick Keane (pictured). He furthermore pronounced that his company intends to integrate with its latest acquisition ‘where relevant in order to generate efficiencies’ and be better able to hit a $66 million profit target for the whole of 2021.
Read a statement from Sogaard…
“This acquisition, which is the largest in our history, gives us a leading position within affiliation in the United States and a strong foundation for profiting from the continuous regulation of the United States betting market. We add three new and very well positioned United States sports media brands to our portfolio and welcome around 100 new colleagues, together representing an invaluable pool of knowledge and expertise on the United States sportsbetting media market.”
Prominent parent:
For his part and Keane asserted that the upcoming merger ‘marks a great achievement’ for the team behind The Action Network and is destined to see the enterprise become part of ‘a leading international player’. He additionally admitted to being ‘thrilled’ about the imminent amalgamation as it will allow his company to continue forging ‘great relationships with our league, media and sportsbook partners.’
Keane’s statement read…
“Under the ownership of Better Collective A/S, we become part of a company with many years of experience and all the resources necessary to further grow our position and develop our offering to ultimately enhance the betting and entertainment experiences of sports fans. We will gain new colleagues, career paths and perspectives and I am very much looking forward to the journey ahead.”
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