Better Collective acquires Futbin for up to €105m
Affiliate giant takes another step into the esports market with FIFA player database acquisition
Better Collective has acquired Futbin and its related domains for a price that could reach €105m (£87.12m).
Out of this total purchase price, €70m will be paid upfront and shares of Better Collective A/S will be paid at a market value of €5m. The remainder of the purchase price will be completed via a number of separate payments over the next two years, subject to certain financial performance criteria being met.
Futbin is a website that was established in 2014 to help FIFA Ultimate Team (FUT) players find the correct prices quickly and reliably. Since its launch, the site has evolved to include features such as a FUT players database, squad builder, calculator, squad analysis, market indexes, draft mode and more.
Over the last 12 months, the platforms have generated €13m in revenue with a Compound Annual Growth Rate of 55% between 2019 and 2021. This could be attributed to the increase in possible game time by FUT players during the pandemic.
The acquisition of Futbin and its associated domains adds another string to Better Collective’s bow, following on from the firm’s acquisition of Counter-Strike: Global Offensive platform HLTV.org in February 2020.
Thanks to these channels and its wider esports portfolio, Better Collective sites now reach a combined 100m monthly visits.
Better Collective CEO Jesper Søgaard commented: “Esports is maturing and attracting more and more people globally – professional athletes. Acquiring Futbin and related assets is a clear testament to Better Collective’s ambition of creating a platform that reaches esports audiences across the world.”
In connection with this acquisition, Better Collective updated its financial targets for the full year 2022, for operational earnings (EBITDA) to approximately €85m; this was previously estimated at €80m. These updated targets reflect the addition of almost eight months’ worth of operational income from the newly acquired assets and the inclusion of the expected costs as well. Other targets relating to organic growth and debt leverage remain unchanged.