Better Collective set to acquire Action Network for $240m
Under the agreement, which Better Collective said is the largest acquisition in its history, the affiliate will take ownership of Action on a cash and debt-free basis. Better Collective will fund the majority of the transaction in cash and $12.0m via the issue of new shares.
Subject to customary regulatory approvals, the deal is expected to complete before the end of the second quarter of this year.
Launched in 2018, Action’s media platforms provide original sports news content, insights, lists of odds and proprietary betting tools and data. Action’s revenue model includes an affiliate marketing business focused on customer acquisition for betting operators in the US, as well as subscription products such as Action Pro, Action Labs and Fantasy Labs.
Action, which has commercial partnerships with US-based sportsbooks such as BetMGM, DraftKings, FanDuel and PointsBet, expects to report approximately $40.0m in revenue in 2021.