In a significant move for the iGaming industry, EveryMatrix has announced the acquisition of FSB Technology, a prominent global sportsbook technology provider, in an all-cash transaction.
This acquisition aims to enhance EveryMatrix's OddsMatrix, the company's tier-1 sportsbook platform and odds feeds division, and solidify its presence in key markets such as the UK, Ireland, and Africa.
Founded in 2007 by Sam Lawrence and David McDowell, London-based FSB Technology is renowned for offering comprehensive turnkey solutions, including Player Account Management (PAM), sports betting, and casino platforms. With this acquisition, EveryMatrix will integrate FSB's advanced features into its own offerings, particularly noting FSB's robust horse racing product.
Ebbe Groes, Group CEO of EveryMatrix, expressed his enthusiasm for the acquisition: "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."
This strategic acquisition is expected to generate immediate additional revenues and synergies across the companies, providing FSB's customers with access to EveryMatrix's modular products such as casino games, aggregation, payments, player account management, managed services, and data tracking.
Customers migrating to OddsMatrix will benefit from a tier-1 sportsbook and odds feeds products, coupled with EveryMatrix's cutting-edge technology, extensive development resources, and a global network of partners.
Adam Smith, CEO of FSB Technology, shared his excitement about the partnership: "FSB has achieved a lot over the last 18-20 months including expansion into new markets and launching innovative propositions. 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."
OddsMatrix has been on a strong growth trajectory, launching several high-profile digital projects for tier-1 brands across Europe, including Bet-at-home and the Hungarian national lottery’s online brand TippmixPro.
The platform had a stellar year in 2023, achieving record growth and profitability, with a 75% year-on-year increase in total bets and a 90% rise in profitability. The acquisition of FSB is poised to continue this momentum, further solidifying EveryMatrix's position in the market.
This acquisition marks a pivotal moment for EveryMatrix as it seeks to expand its footprint in regulated markets and diversify its customer base. The integration of FSB Technology’s solutions is expected to enhance EveryMatrix's offerings and deliver exceptional results for its clients, reinforcing its reputation as a leader in the iGaming industry.
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