Regulatory Release 9/2018
Better Collective has completed the acquisition of all shares in Greece based WBS P.C. | Online Marketing Services and KAPA, which is based in Malta. On proforma basis, the consolidated annual revenue in 2018 is expected to be approximately 1 million EUR and EBITA approximately 0.75 million EUR for the two companies combined. The acquisition price has been agreed to 4 million EUR, plus a potential earn-out payment of up to 0.4 million EUR.
Better Collective, the world’s leading developer of digital platforms for bookmaker information, iGaming communities, and betting tips, has today acquired WBS P.C. in Greece and the Malta based KAPA. This marks the twelfth acquisition since Better Collective began executing its M&A strategy in early 2017, and is the second acquisition after its IPO in early June 2018
Better Collective becomes the leading sports betting affiliate in Greece
Founded in 2013, WBS P.C. owns a portfolio of 10+ successful websites that have a predominant focus on sports betting. On a proforma basis, WBS P.C. and KAPA combined are expected to generate revenue of approximately
1 million EUR and 0.75 million EUR in operating earnings (EBITA) in 2018.
The acquisition of WBS P.C. and KAPA plays a part in Better Collective’s long term plan of expanding into regulated markets with high growth potential.
As part of the transaction, Better Collective will take over and manage the office in Thessaloniki, Greece. The new Better Collective office in Greece will have close ties with the Copenhagen based headquarters to assure that synergies are realised quickly and successfully.
The purchase price has been agreed to 4 million EUR, plus a potential performance based earn-out payment of up to 0.4 million EUR. Of the total acquisition price, 3.2 million EUR was paid at closing and 0.8 million EUR will be payable 6 months thereafter. The performance based payment is dependant on revenue growth in 2018 and 2019.
Jesper Søgaard, CEO of Better Collective:
“This acquisition is a great next step for our international expansion in regulated markets. The Greek sports betting and gambling market is a very attractive market with one of the highest ratios between gross gaming revenue and GDP in Europe. Better Collective acquiring the affiliate market leader in such a market is very much in line with our strategy, and we are confident this will be another successful acquisition. We are looking forward to welcoming our new colleagues in Thessaloniki.”
Contacts
CEO: Jesper Søgaard
CFO: Flemming Pedersen
Investor Relations: Christina Bastius Thomsen +45 2363 8844
e-mail: investor@bettercollective.com
This information is such information as Better Collective A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 19.58 p.m. CET on July 31, 2018.
About Better Collective
Better Collective’s vision is to empower iGamers through transparency and technology – this is what has made them the world’s leading developer of digital platforms for betting tips, bookmaker information and iGaming communities. Better Collective’s portfolio includes more than 2,000+ websites and products. This includes bettingexpert.com, the trusted home of tips from expert tipsters and in depth betting theory, and SmartBets, the odds comparison platform made personal.
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