Better Collective signs LoI for €45m acquisition
Affiliate marketing giant Better Collective has signed a letter of intent to acquire an unnamed igaming business for approximately €45m (£40.5m/$53.2m), with the aim of enhancing its lead generation capabilities.
Further details of the agreement were not disclosed, but Better Collective said that the target business has a global presence and specialises in lead generation within the online gambling market.
Better Collective also noted that the business in question expects to post over €40m in revenue, as well as €8m in earnings before interest, tax, depreciation and amortisation, for 2020.
The acquisition remains subject to due diligence and final contract negotiations, but if the deal does go through, Better Collective said that it will be an important strategic move for its business.
“We remain highly dedicated to continuing to build our position as the main consolidator in the industry and currently have a healthy pipeline of acquisition candidates,” Better Collective added.
The announcement comes as Better Collective today (25 August) also posted its financial results for the first half of 2020, during which it saw revenue and net profit increase despite the impact of novel coronavirus (Covid-19).
Revenue amounted to €36.2m, up 17.7% year-on-year, while net profit was also 16.2% higher at €8.6m for the six-month period to 30 June.