EveryMatrix will further bolster its OddsMatrix sports betting division with the acquisition of sportsbook technology provider FSB Technology.
The all-cash deal will generate “immediate additional revenues” and “cross-company synergies,” EveryMatrix said, as well as establishing its operations in FSB’s key markets of the UK, Ireland and Africa.
EveryMatrix will incorporate key FSB features including its horseracing product into its OddsMatrix solution.
OddsMatrix achieved record results in 2023 for growth, profitability and number of bets for tier one customers – with total bets up 75 per cent year-on-year.
EveryMatrix group CEO Ebbe Groes said the acquisition is the company’s “most ambitious” yet by value, size and complexity.
“This transaction facilitates our long-term growth strategy of entering and growing within a greater number of regulated markets, including the UK, Ireland and Africa, where many FSB clients operate,” he added.
“It also allows us to accelerate this process, diversify our customer and revenue profiles, while simultaneously migrating customers to a stronger, high performing product proven to deliver exceptional results.”
Groes said there was a “huge amount” of internal teamwork to ensure a smooth process for the deal.
Adam Smith, CEO of London-based FSB Technology, said: “Joining together with EveryMatrix represents another major milestone for FSB. We are delighted and excited by the new opportunities this deal could create, through the sharing of our unique capabilities as well as accelerating the growth of FSB's existing partners.”
