Better Collective hits €99m in Q2
Better Collective announced its Q2 results, highlighting the rise of its operating revenues to 27%.Better Collective, a digital sports media group founded in 2004,...
Better Collective launches €20 million share buyback
Better Collective has started a buyback campaign with the goal of repurchasing up to €20 million worth of the company’s shares.
This program, which has an ending date of September 5th, is meant to fulfill commitments for acquisitions and long-term incentive schemes in the future.
The buyback will be carried out on Nasdaq Stockholm and/or Copenhagen.
The entire amount spent is limited to €20 million, or the same amount in Swedish or Danish kroner. This sum equates to a maximum of 6,187,519 shares, with a nominal value of €0.01 per share. The execution schedule is flexible, allowing for closing before September 5 in case the €20 million barrier is reached before then. Payment for the repurchased shares will be made in cash. Better Collective has selected ABG Sundal Collier as the buyback programme’s lead manager.
Last year, the company changed its M&A strategy from purchasing traditional performance marketing companies to focusing on strong local and global sports media outlets with devoted readerships and revenue from regular advertising.
Co-founder and CEO of Better Collective Jesper Søgaard said at the time:
“We are uniquely positioned to consolidate the digital sports media space. There are a lot of synergies to harvest in combining strong authoritative sports media with large viewerships and Better Collective’s core strengths of optimisation, conversion, and diverse business models.”
They raised €145 million earlier this year to strengthen its financial position and prepare for potential acquisition prospects. The company has been actively extending its portfolio through strategic acquisitions, including recent transactions with Playmaker Capital, Playmaker HQ, and UK-based AceOdds.
Better Collective acquires AceOdds for global expansion
Better Collective acquired AceOdds last month for €42 million; a component of this acquisition is the company's plan to strengthen its global and UK footprint.AceOdds...
