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Better Collective acquires Skycon Limited14 April 2023(PRESS RELEASE) -- In order to realize the vision of becoming the leading digital sports media group, Better Collective expands its efforts within digital display advertising by acquiring Skycon Limited for a total consideration of up to 45 mGBP. Skycon Limited is a global display advertising company and complements Better Collective’s Paid Media division. Upgrade of financial targets 2023 Skycon Limited will be consolidated into the Better Collective Group as of today 14 April 2023. Better Collective upgrades its financial targets for 2023 as follows:
Skycon Limited (Skycon) is a British company founded in 2017 and is run out of Newcastle-under-Lyme, England. The company specializes in display advertising with an ‘audience-based’ approach, which is paid advertising on channels such as sports media. Skycon’s approach is highly complementary to Better Collective’s existing Paid Media approach with a ‘search engine-based’ approach. The acquisition will increase the addressable market for Better Collective’s Paid Media division and will further increase its value proposition towards the Group’s diverse business partners. Better Collective will integrate the business into its existing Paid Media operations and will take over Skycon’s substantial recurring revenue share database. Skycon has seen great growth, which Better Collective expects to fuel further with several cross-selling synergies, while also improving its own business through operational synergies. Synergy highlights
“We have invested heavily in growing our Paid Media division to reach its current significant scale, while we also have invested in moving revenues to recurring revenue share contracts,” said Jesper Søgaard, Co-founder & CEO of Better Collective. “During the past year, our efforts have proven successful and acquiring Skycon will be highly synergistic to this journey. Skycon is a great business, which is built on Better Collective’s favored revenue share model. It is a perfect fit as we can leverage our leading skill set within media buying to grow Skycon’s revenues. We also see a clear path to further growth as the asset can be scaled across more of our business partners, into new territories, and optimized with our unrivaled first party data in sports media. This acquisition will further deepen our moat.” Transaction details Better Collective will pay up to 45 mGBP on a cash and debt free basis, including an upfront cash consideration of 25 mGBP and up to 20 mGBP in earn outs. The earn outs are based on certain financial performance targets in the 12 months post-closing period. The acquisition will be funded by cash, and the earn-out is estimated to be at least 50% financed by the existing revenue share database.
Better Collective acquires Skycon Limited
is republished from iGamingNews.com.
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