M&A: EveryMatrix acquires FSB Technology

Lea Hogg 1 week ago
M&A: EveryMatrix acquires FSB Technology

London-based B2B sportsbook EveryMatrix has acquired FSB Technology. This all-cash deal is a strategic move by EveryMatrix to enhance its sportsbook platform, OddsMatrix, and expand its market presence. The deal marks a significant milestone for EveryMatrix and is one of the largest acquisitions ever made by the company.

“The acquisition will strengthen OddsMatrix, our sportsbook platform and odds feeds division, solidifying our presence in the UK, Ireland, and Africa. This strategic move is set to propel EveryMatrix to new heights in the industry.”

Background and analysis

EveryMatrix plans to incorporate FSB’s features, such as its horseracing product, into its existing offerings. This integration will not only diversify EveryMatrix’s product portfolio but also provide its customers with a more comprehensive and high-performing product.

Ebbe Groes, EveryMatrix Group CEO, (pictured above), stated that this transaction aligns with their 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. This acquisition allows EveryMatrix to accelerate this process, diversify its customer and revenue profiles, and migrate customers to a stronger product.

FSB Technology, founded in 2007 by Sam Lawrence and David McDowell, has been a key player in the sports betting industry, offering services including Player Account Management (PAM), sports betting, and casino platform solutions. The company’s technology and market presence are expected to significantly boost EveryMatrix’s capabilities.

Adam Smith, FSB CEO, expressed his excitement about the new opportunities this deal could create. He highlighted FSB’s achievements over the last 18-20 months, including expansion into new markets and launching innovative propositions. This acquisition represents another major milestone for FSB, accelerating the growth of its existing partners through the sharing of unique capabilities.

Future of EveryMatrix and FSB

By acquiring FSB, EveryMatrix is not only enhancing its product offerings but also positioning itself for greater market penetration. The integration of FSB’s technology will undoubtedly strengthen EveryMatrix’s position in the competitive iGaming industry.

The future looks promising for both EveryMatrix and FSB. As they merge their unique capabilities and strengths, they are poised to deliver exceptional results and redefine the sports betting sector. This strategic acquisition is a significant step towards achieving the shared vision of the two companies to provide superior sports betting solutions to a global audience.

SiGMA East Europe Summit powered by Soft2Bet, will take place in Budapest from 2-4 September 2024

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