Better Collective, a leading digital sports media group, has finalized a deal to acquire Playmaker Capital, another prominent digital sports media group. The agreement, announced earlier this year, is expected to solidify Better Collective’s presence in the Americas and establish the company as a dominant force in the South American market.
The acquisition involves Better Collective paying approximately $188 million (converted from Euro, based on current rates) to acquire Playmaker Capital. Of this amount, 65% will be funded with shares, comprising 1,387,580 treasury shares and up to 1,713,300 newly issued shares. The remaining 35% will be paid out in cash.
Following the acquisition, Better Collective plans to retain Playmaker Capital’s experienced leadership team and utilize their expertise to further develop its business. The deal will see Better Collective take charge of several digital sports media brands, including Futbol Sites, Yardbarker, and The Nation Network, which collectively draw over 200 million monthly visits from the Americas. Additionally, Playmaker Capital’s US-focused paid media division, Wedge, will be integrated into Better Collective’s paid media division.
The consolidation of the two companies is expected to bring financial and operational synergies, allowing Better Collective to benefit from enhanced scale and product offerings. As a result, Better Collective aims to expand its audience and portfolio, ultimately revisiting its long-term financial targets for 2023-2027 once the transaction is finalized.
The acquisition is subject to approval by Playmaker Capital shareholders, as well as certain court and regulatory approvals. It is anticipated to close by the end of the first quarter of 2024.
Jesper Søgaard, co-founder and CEO of Better Collective, hailed the deal as a significant milestone in the company’s journey to becoming the leading digital sports media group. He emphasized the potential for substantial audience growth and reaching a larger segment of sports fans.
Similarly, Jordan Gnat, co-founder and CEO of Playmaker Capital, expressed enthusiasm for the partnership, noting the strong alignment between the two companies’ visions and cultures. This sentiment was echoed by Gnat, who anticipates the integration and synergies to be beneficial for shareholders.
In the midst of these developments, Better Collective is preparing for a second listing on Nasdaq Copenhagen.