Better Collective, the world’s leading developer of digital platforms for bookmaker information, has completed the acquisition of all shares in Ribacka Group AB, incorporated in Sweden.
Ribacka group expects to generate a revenue of 6 million EUR in 2018, with operating earnings (EBITA) of 5 million EUR. The purchase price has been agreed to amount up to 30 million EUR, of which 15 million EUR will be paid in cash at closing, 6 million EUR will be paid in May 2019 in either cash or ordinary shares in Better Collective, and the remaining 9 million EUR will be paid in 2020 pending certain agreed performance criteria.
Jesper Søgaard, CEO of Better Collective, commented: “We are truly excited about expanding our position in the Swedish market ahead of the coming regulation. With a strong network of brands in the Swedish market, including speltips.se, Ribacka Group is a great fit for Better Collective.”
Jesper Ribacka, Founder and CEO of Ribacka Group, added: “On behalf of myself and my co-founder of Ribacka Group, I am happy to announce our acquisition by Better Collective. Since 2012, we have worked very hard to build strong brands in the Swedish market and, most importantly, a strong team to help us become a success.”Follow us on