better collective finalises atemi takeover in 40m dealby Joker 01.10.2020 0 comments
Better Collective has completed a ‘major strategic move’ after confirming that it has completed the acquisition of igaming lead generation specialist Atemi Group.
The acquisition has been valued at approximately £40 million, of which £32.5 million is paid upfront at closing. This will be done via a combination of £27.8 million in cash and £4.7 million in Better Collective shares from the treasury shares holding. The remaining £7.5 million will be paid in equal quarterly deferred payments until the end of 2021.
Jesper Søgaard, CEO of Better Collective, commented: “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, with an estimated annual NDC level of of more than 600.000, and from a financial perspective Better Collective will take a leap of having proforma annual revenue of estimated more than 120 million EUR with high operational earnings and cash flow.”
The acquisition of Atemi Group, according to Better Collective, will provide ‘significant synergistic opportunities’ by delivering a number of additional channels of traffic to source ‘high intent customers at a large scale’.
In addition, Better Collective stated that ‘the acquisition provides the opportunity of scaling PPC activities into additional attractive markets and to further invest in the sports betting opportunity’.
In its statement, Better Collective outlined a series of ‘strategic objectives’ for the takeover. These included:
Atemi Group was founded in 2015 and is recognised as leading igaming agency specialised in paid media (PPC) and Social Media advertising, driving mass engagement campaigns through Google, e, Microsoft Bing, Facebook and Instagram among others.
Richard Skelhorn, founder of Atemi Group, added: “We built a very successful gaming affiliate business over the past five years at Atemi. All credit goes to the amazing team and now we are thrilled to be joining Better Collective.
“Atemi and Better Collective are both market leaders in their respective areas, and the combination of the two companies, creates a very strong force in gaming affiliation. I am certain this will take us to the next level.”