EveryMatrix has taken a major strategic step by acquiring FSB Technology, a prominent global turnkey and specialist sportsbook technology provider, in an all-cash transaction. This acquisition is poised to significantly enhance EveryMatrix’s sportsbook platform, OddsMatrix, by bringing immediate revenue increases, cross-company synergies, and a solidified presence in key markets such as the UK, Ireland, and Africa, where FSB has established a strong foothold.
Founded in 2007 by Sam Lawrence and David McDowell, FSB Technology has become a leading B2B sportsbook technology supplier based in London. FSB offers comprehensive end-to-end turnkey solutions, including Player Account Management (PAM), sports betting, and casino platform solutions. This acquisition allows EveryMatrix to integrate key features of FSB’s offerings, particularly its renowned horse racing products, into its own portfolio.
Customers will now benefit from an enhanced suite of modular products from EveryMatrix, including casino games, aggregation, payments, player account management, managed services, and affiliate management and data tracking. The migration to OddsMatrix will provide access to proven, tier-1 sportsbook and odds feeds products, bolstered by EveryMatrix’s advanced technology, extensive development resources, and a team of over 1,000 employees across 13 global locations.
Expanding Market Reach and Enhancing Product Offering
The acquisition aligns with EveryMatrix’s long-term growth strategy, aiming to expand and deepen its presence in regulated markets, particularly in the UK, Ireland, and Africa. FSB’s strong market share in these regions will help accelerate this process, diversify EveryMatrix’s customer and revenue profiles, and migrate FSB’s clientele to a more robust, high-performing product suite.
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.”
Achieving Record Growth and Profitability
OddsMatrix has already demonstrated impressive performance, launching several large-scale digital projects for tier-1 brands across Europe, including Bet-at-home and the Hungarian national lottery company’s online brand, TippmixPro. In 2023, OddsMatrix achieved record growth and profitability, with a 75% Year-on-Year (YoY) increase in total bets, a 90% surge in profitability, and a 31% rise in live events to more than 1.8 million for the year. With the acquisition of FSB Technology, this strong growth trajectory is set to continue.
Adam Smith, CEO of FSB Technology, commented on the deal: “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.”
Looking Ahead
This acquisition marks a significant milestone for EveryMatrix, enhancing its sportsbook platform, expanding its market reach, and boosting its technological capabilities. By incorporating FSB’s strengths, EveryMatrix is well-positioned to continue its upward trajectory, delivering exceptional results for its clients and partners. The seamless integration of FSB Technology’s offerings into OddsMatrix will provide customers with an unmatched gaming experience, leveraging the combined expertise and resources of both companies.
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