Better Collective, a Copenhagen, Denmark-based developer of digital platforms for bookmaker information, iGaming communities, and betting tips, completed the acquisition of all shares in Austrian based Bola Webinformation GmbH, including its flagship product Wettbasis.com.
The purchase price has been agreed to €36.3m to be paid in cash.
This is the eleventh aquisition so far for Better Collective, which is led by Jesper Søgaard, CEO. Last year, the company acquired Sportfreunde GmbH, including websites sportwettentest.net and wettfreunde.net, both large sports betting affiliate websites also targeting the German speaking markets.
When combined with the portfolio from Bola Webinformation GmbH and its other websites (including Bettingexpert.com), Better Collective is now positioned as the market leader in the German speaking markets as it happens.
Founded in 2008 by Florian Körner, Bola Webinformation owns brands focused on sports betting, including the flagship product Wettbasis.com, an affiliate website in the German sports betting market. On a proforma basis, and after adjustment for certain non-core assets of the business that were divested before completion, the company generated revenues of approximately €9m and €6.5m in operating earnings (EBITA) in 2017.
With the recent establishment of a new office in the center of Vienna to host Better Collective’s employees in Austria, the team from Bola Webinformation GbmH will join the existing “Better Collective Vienna” team in these new facilities.
Nordea Bank AB acted as advisor in connection to the acquisition.