Better Collective makes final payment for Ribacka acquisition
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.