Ebbe Groes leads new deal with revenue-driving ambition

Lea Hogg September 22, 2024

EveryMatrix has submitted a public offer to acquire Fantasma Games AB for SEK 59 (€5.21) per share, translating to a total cash deal of SEK 209.8 million (€18.5 million). The offer, set to run until 10 October, 2024, has already gained momentum with over 50 percent of Fantasma’s shareholders signing binding agreements to sell.

The deal is clearly more than a financial manoeuvre; it’s a calculated effort to enhance EveryMatrix’s games portfolio. Fantasma, listed on Nasdaq First North Growth Market Sweden, brings a robust catalogue of titles integrated across 250+ operators in 50 countries. Adding these to EveryMatrix’s existing suite—anchored by SlotMatrix, its aggregation platform boasting 29,000+ games—could amplify its reach and offerings.

Fantasma’s EBITDA of €395k for Q2, with a 36 percent profit margin, illustrates the developer’s solid footing. By joining forces, EveryMatrix aims to leverage synergies and solidify its position in the global iGaming landscape, bolstering both output and innovation. This acquisition, however, hinges on 90 percent shareholder acceptance—a threshold that, if met, could dramatically alter the iGaming market.

***Source: SiGMA News, Key points of acquisition deal.***

For EveryMatrix, a company already powering Tier 1 global operators and boasting 1,000 employees in 13 countries, the acquisition signals an aggressive push towards diversification and increased market dominance. Fantasma’s game portfolio, in tandem with EveryMatrix’s proprietary technology and expertise, has the potential to offer more robust, scalable solutions for players worldwide.

CEO Ebbe Groes on scaling up through strategic M&A

To understand the significance of this pending deal, it’s important to look at recent comparable acquisitions. In particular, EveryMatrix’s recent acquisition of FSB Technology earlier this year has become a case study in how to navigate M&A successfully in the iGaming world. The acquisition was hailed as the company’s “most ambitious” yet, and it set the stage for future moves by other key industry players.

Speaking with SiGMA News, EveryMatrix CEO Ebbe Groes elaborated on the rationale behind EveryMatrix’s M&A appetite. “Being a successful B2B supplier is all about scale,” Groes explained. He highlighted how EveryMatrix would strengthen its portfolio where it had limited exposure to,

He provided a clear vision of the company’s M&A approach, which is strategically focused on growth through scalability and technological synergies. According to Groes, the key to successful M&A lies in the ability to enhance EveryMatrix’s existing strengths by integrating complementary companies that add significant value. The company has consistently pursued acquisitions that align with its broader goal of expanding market presence and improving operational efficiency.

Groes emphasised that for EveryMatrix, scale is critical in the B2B space. The company’s focus is on building robust technologies that can be sold across multiple markets and clients, driving long-term profitability and continued innovation. Previous acquisitions have strengthened EveryMatrix’s sports, affiliate marketing, and data intelligence offerings, which has allowed the company to diversify and enhance its modular B2B software.

Looking forward, Groes maintains that EveryMatrix will continue to seek M&A opportunities that align with its strategic objectives. While the company remains open to further deals, Groes highlighted that their primary focus is on ensuring that past acquisitions are fully integrated into the company’s ecosystem, contributing effectively to both immediate and long-term growth. This disciplined approach reflects EveryMatrix’s commitment to maximizing the impact of each acquisition on the company’s overall performance.

Why EveryMatrix M&A strategy is more than just buying up competitors

As Groes points out, the future of M&A will increasingly revolve around technological advancements such as AI and data automation. For EveryMatrix, the challenge lies in not just acquiring new companies but seamlessly integrating them to drive long-term growth. In a rapidly consolidating industry, this focus on strategic M&A positions EveryMatrix as a key player, with the agility and scale to stay ahead of the competition.

The company’s M&A activity reflects a careful, long-term strategy. Groes has been clear that acquisitions must provide synergies that enhance EveryMatrix’s existing strengths. This disciplined approach ensures that the company remains competitive while expanding into new markets and enhancing operational efficiency.

The recent bid to acquire Fantasma Games, indicates a strategy of acquiring companies that bring immediate value. With Fantasma, EveryMatrix stands to gain not only a portfolio of top-tier gaming titles but also access to more than 250 operators across 50 countries. This fits neatly into EveryMatrix’s broader ambition to solidify its position as the leading global aggregator, leveraging its SlotMatrix platform, which already houses 29,000 games.

In the iGaming industry today, mergers and acquisitions have transcended mere growth tactics—they’ve become indispensable strategic weapons. For EveryMatrix, M&A isn’t just about adding assets; it’s about expanding technological capabilities and market presence in areas where the company sees potential for significant growth.