Better Collective closes $240m Action Network acquisition
| By Daniel O'Boyle
Better Collective has closed its $240m acquisition of the Action Network, the largest deal in the super-affiliate’s history.
The deal was announced at the start of this month. Of the $240m price, the vast majority will be paid in cash, alongside $11.4m in new Better Collective shares, issued at a price of SEK231.35 per share. Of the cash payment, $10m is deferred.
“We are excited to finalize the acquisition of Action and to formally welcome its employees to the Better Collective Group,” Jesper Søgaard, co-founder and chief executive of Better Collective, said.
“This acquisition gives us a leading position within sports betting media in the US and a strong foundation for profiting from the continuous regulation of the US betting market.”