Sports betting media group Better Collective has acquired lead generation specialist Atemi Group for up to €44m.
Atemi is specialised in igaming lead generation through paid media (PPC) and social media advertising.
The acquisition is billed as a major strategic move for Better Collective with significant synergistic opportunities.
Historically, the focus of Atemi has mostly been on traffic acquisition towards igaming, but it has more recently focused on building and investing in sports betting comparison platforms.
In 2019, Atemi generated revenues of €33m with organic growth of 70 per cent compared to 2018. For 2020, the company is on course to send more than 180,000 new depositing customers to partners representing igaming operators and has set a revenue target of over €40m and operational earnings of approximately €8m.
The purchase price of £40m comprises £32.5m paid upfront at closing in a combination of £27.8m in cash and £4.7m in Better Collective shares from the treasury shares holding. The remaining £7.5m will be paid in equal quarterly deferred payments until the end of 2021.
Jesper Søgaard, CEO of Better Collective, said: “This acquisition is a very important step for us to reach our strategic target of becoming the leading sports betting aggregator in the world. Atemi Group has been on an impressive growth journey since the company was founded in 2015, and has reached the large scale it takes to be competitive and profitable within paid media.
“We see many opportunities for expansion into new markets and for harvesting synergistic effects between our assets and competences. The acquisition will immediately bring Better Collective in the absolute leading position when in comes to customer acquisition for the online operators.”
