Better Collective has successfully acquired Playmaker Capital for €176 million (£153 million/$188 million), with the deal expected to be finalised in the first quarter of 2024.
According to Better Collective, the agreement will strengthen the company’s position as a leading market player in South America and “confirm its leadership in North America.”
To finance this transaction, it is planned to use 65% shares and 35% cash. After the successful completion of the transaction, the company will revise its financial plans for the period from 2023 to 2027.
Toronto-based Playmaker Capital is listed on both the TSX Venture Exchange in Canada and the OTCQX in the United States. Its sports media brands include Futbolsites.net, Yardbarker and The Nation Network, all of which will be acquired by Better Collective.
Better Collective sees mutual benefit from increased scale and increased investment in product, technology and marketing. In addition, the company expects to grow its sports fan base in America through the acquisition.
Jordan Gnat, co-founder and CEO of Playmaker Capital stated that the transaction took 12 months to complete successfully: “Over the past 12 months, I have been talking a lot about a transformational deal for Playmaker and its shareholders that will take this company to the next level”.
“Today’s announcement does exactly that and I could not be more excited for the Playmaker family to join the Better Collective family”.
“Their success is undeniable and their vision to become the leading digital sports media group aligns with us exactly. The cultures of our companies are very similar and I see the integration and synergies to be incredibly accretive to shareholders.”
Jesper Søgaard, Better Collective co-founder and CEO, noted that this agreement will be a key step in the company’s development in the field of digital sports media: “Upon closing of the acquisition, we will significantly grow our audience and reach a larger segment of generalist sports fans.”
“For years, Playmaker Capital has built incredibly strong sports media brands and excited sports fans across the Americas with high-quality sports content, cultivating a loyal and dedicated following”.
“The skilled team behind Playmaker Capital brings a unique set of media competencies that will boost our organization. I am excited to welcome the new team to the Better Collective”.
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