EveryMatrix lands "most ambitious acquisition to date" with all-cash deal for FSB
Malta-based supplier to integrate FSB Technology into its OddsMatrix division as it plans to draw on global reach of newly acquired business
EveryMatrix has confirmed the acquisition of sports betting technology supplier FSB Technology via an all-cash deal.
The deal will see EveryMatrix’s sportsbook platform, OddsMatrix, further strengthened, with an additional revenue boost expected immediately.
EveryMatrix added that the deal would bring about cross-company synergies as well as expanding its presence in the UK, Ireland and Africa – three regions that FSB already boasts a strong market share.
The London-based supplier was founded in 2007 by Sam Lawrence and David McDowell. FSB offers full turnkey solutions, which include PAM, sports betting and casino solutions, all of which will be integrated into EveryMatrix’s own offering.
Since the turn of the year, FSB has secured deals with South African operator SuperSportBet and new UK challenger brand OcotBet.
Additionally, March marked a record month for the firm, with new record highs in NGR and GGR, as well as a two-year sportsbook margin.
OddsMatrix has overseen notable successes in recent months, having launched online sports betting for bet-at-home and the Hungarian National Lottery.
For 2023, the division reported record growth, profitability and a record number of bets for tier-one customers.
There was also a 75% year-on-year increase in total bets, which sparked a profitability rise of 90%.
Ebbe Groes, EveryMatrix CEO, expressed his joy at news of the acquisition, as he said: “I’m delighted to announce our purchase of FSB Technology and I’m proud of the EveryMatrix team that has been involved in making this deal happen so effortlessly.
“This is our most ambitious acquisition to date, by value, size and complexity. There was a huge amount of internal teamwork behind the scenes to ensure this process was managed efficiently which is a great credit to everyone.
“Our ability to quickly transact and get this over the line so smoothly has been very impressive.”
Groes went on to reveal what FSB will bring to EveryMatrix, insisting the acquisition will allow the firm to speed up its planned expansion in the aforementioned regions.
He added: “This transaction facilitates our long-term growth strategy of entering and growing within a greater number of regulated markets, including the UK, Ireland and Africa, where many FSB clients operate.
“It also allows us to accelerate this process, diversify our customer and revenue profiles, while simultaneously migrating customers to a stronger, high-performing product proven to deliver exceptional results.”
Adam Smith, FSB CEO, shared a similar sentiment to Groes, dubbing the deal a “major milestone” in the supplier’s journey.
“FSB has achieved a lot over the last 18 to 20 months including expansion into new markets and launching innovative propositions,” Smith explained.
“Joining together with EveryMatrix represents another major milestone for FSB. We are delighted and excited by the new opportunities this deal could create, through the sharing of our unique capabilities as well as accelerating the growth of FSB’s existing partners.”
Last week saw DeepCI rebrand to PartnerMatrix Intelligence following its purchase by EveryMatrix 12 months ago for an undisclosed fee.
The recently rebranded firm now offers an “all in one” affiliate management and data tracking brand.