Better Collective takes the lead in Greek market
Better Collective acquires WBS P.C and KAPA
The world’s leading developer of digital platforms for bookmaker information, iGaming communities, and betting tips – Better Collective -has announced the acquisition of WBS P.C. in Greece, and the Malta based KAPA. This stands as the twelfth acquisition since Better Collective began executing its M&A strategy in early 2017, and is the second acquisition after its IPO in early June 2018
The acquisition of WBS P.C. and KAPA plays a part in the company’s long term plan of expanding into regulated markets with high growth potential.
Jesper Søgaard, CEO of Better Collective, commented: “This acquisition is a great next step for our international expansion in regulated markets. The Greek sports betting and gambling market is a very attractive market with one of the highest ratios between gross gaming revenue and GDP in Europe. Better Collective acquiring the affiliate market leader in such a market is very much in line with our strategy, and we are confident this will be another successful acquisition. We are looking forward to welcoming our new colleagues in Thessaloniki.”
Under the terms of the agreement, Better Collective will be taking over and managing the office in Thessaloniki, Greece. The new Better Collective office in Greece will have close ties with the Copenhagen based headquarters to assure that synergies are realised quickly and successfully.
The purchase price has been agreed to 4 million EUR, plus a potential performance based earn-out payment of up to 0.4 million EUR. Of the total acquisition price, 3.2 million EUR was paid at closing and 0.8 million EUR will be payable 6 months thereafter. The performance based payment is dependant on revenue growth in 2018 and 2019.
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