Better Collective

Better Collective triggers UK power play acquiring AceOdds for €42m

Better Collective A/S will significantly expand its presence in UK betting, having agreed terms to acquire AceOdds Media and all related assets.

Closing trading on 16 May, Better Collective declared to markets that it had acquired AceOdds for a total consideration of €42m, “expanding its foothold in the UK”.

As reported, the €42m deal implies a 4x valuation on AceOdds’ EBITDA in the past twelve months of trading. Dealmakers informed that a portion of profitability would be reinvested into the product and user experience, “moderately reducing future profitability of the asset in the short to mid-term.”

The transaction will be carried out on a net cash/debt free basis, in which Better Collective will reward AceOdds with a €40m cash payment. The remainder of the purchase fee will be rewarded via Better Collective shares priced on Nasdaq Copenhagen, with a share buy back programme initiated to settle the deal.

AceOdds and its related betting media services were deemed a strong strategic fit for Better Collective’s network, strengthening its UK profile and helping expand its presence within US markets.

Synergies highlighted included AceOdds’ “world-class SEO competencies” and proprietary suite of betting tools, comparison features, embedded live streams, and popular apps.

Of significance, the AceOdds app will provide important zero and first party data for the UK market to utilise for segmentation and targeting on Better Collective’s internal AdTech platform, AdVantage.

SBC News Better Collective triggers UK power play acquiring AceOdds for €42m
Ian Bowden: Better Collective

Ian Bowden, Senior Director UK & Ireland, Better Collective, stated: “I am thrilled to announce the addition of AceOdds to the Better Collective group.”

“AceOdds fills a crucial gap by offering a vital sports betting affiliation brand in a pivotal growth market for the Better Collective group, along with an app benefiting from hundreds of thousands of installs to further increase the reach we can provide our partners.”

The update saw Better Collective upgrade its full-year 2024 guidance, expecting revenues of €395 to €425m and EBITDA before special items of €130 to €140m, representing 21-30% and 17-26% growth, respectively. The guidance maintains a net debt to EBITDA ratio of less than 3x.

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