Better Collective makes final payment for Ribacka acquisition

Better Collective makes final payment for Ribacka acquisition

Affiliate marketing provider Better Collective has announced that it has paid the third and final instalment related to its acquisition of Ribacka Group.

Published 6th April 2020

Better Collective said that as all agreed performance criteria were met, it would pay an agreed €9m (£7.9m/$9.8m). This has been fully reflected as debt in the balance sheet of Better Collective.

The provider will make an immediate payment of €m in cash, and will settle the remaining €3m no later than 15 May in a combination of shares and cash.

Better Collective announced its acquisition of Swedish iGaming affiliate marketing business Ribacka in a deal worth up to €30m in December 2018.

Ribacka operates a network of sports betting and casino marketing sites in Sweden, including Speltips.se.

At the time of the original announcement, Better Collective said it would leverage Ribacka’s presence to establish a presence in Sweden’s sports betting market.

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