North East tech firm AceOdds has been acquired in a deal worth £36 million.
Digital sports media group Better Collective has snapped up the multi-language sports betting brand to expand its foothold in the UK.
The Denmark-headquartered firm, dual-listed on the Nasdaq Copenhagen and Nasdaq Stockholm, said the deal for AceOdds is for £34m in cash, with the remainder consisting of Better Collective shares.
Northumberland-headquartered AceOdds, the trading name for Solid Software Ltd, was founded in 2008 and offers a comprehensive range of betting tools, odds, reviews and streaming schedules through its web- and app-based platforms.
The acquisition aligns with Better Collective’s strategy of owning the full range of sports media across key regions, spanning from traditional sportsbook comparison brands to general sports media, social media content creators and podcast producers.
“I am thrilled to announce the addition of AceOdds to the Better Collective group,” said Ian Bowden, senior director UK & Ireland at Better Collective.
“This strategic acquisition brings us a robust owned and operated sports betting media brand in the UK market, poised for global scalability.
“Aligned perfectly with Better Collective’s overarching strategy of acquiring leading sports media brands across various niches, the AceOdds brand fills a crucial gap by offering a vital sports betting affiliation brand in a pivotal growth market for the Better Collective group, along with an app benefiting from hundreds of thousands installs to further increase the reach we can provide our partners.”