Better Collective has acquired sports affiliate AceOdds to enhance its presence in the UK.
Senior director UK & Ireland, Ian Bowden, said he was “thrilled” to welcome this “vital” brand to the Better Collective group. “This strategic acquisition brings us a robust owned and operated sports betting media brand in the UK market, poised for global scalability.”
He added that the hundreds of thousands of installs of the AceOdds app would provide additional reach for its partners as well as “important zero and first-party data for the UK market to utilise for segmentation and targeting on Better Collective’s internal AdTech platform, AdVantage”.
Better Collective will also leverage its market, SEO and product expertise to capitalise on growing international interest in AceOdds, already available in 18 languages.
The purchase of AceOdds for €42m (£36m) implies a 4 x multiple of the last 12 month’s EBITDA and will be financed on a debt-free basis with €40m cash with the remaining €2m settled in shares. BC cautioned that AceOdds’ profitability in the short to mid-term would fall as it reinvested into upgrading product and UX.
On the back of the acquisition, the world’s biggest igaming affiliate upgraded its FY revenue target to €395-425m from the previous €390-420m, and its EBITDA target to €130-140m from €125-135m.