Better Collective purchases Skycon for £45m
Better Collective has recently announced its latest acquisition of Skycon Limited for 45 million Pounds.
Through this latest acquisition, Better Collective will be adding Skycon to its list of subsidiaries, boosting its paid media services. The latter will also get access to the sports media firm’s catalog of supporting offerings and international network of clients, potentially expanding its reach to new significant markets such as the United States.
Additionally, in its announcement detailing the latest purchase, Better Collective also published its updated financial targets for the current year. This includes an upgraded list of key figures, with the main one being a targeted revenue of 305 million to 315 million Euros. This is up from the company’s previous goal of 290 million to 300 million Euros by approximately 5%.
The group also increased its EBITDA targets for 2023 by the same ratio, going from a range of 90 million – 100 million Euros to 95 million – 105 million Euros.
“We have made quite a lot of progress on our paid media offerings, as well as on our long-term strategy of moving to recurring methods of revenue over the past little while. This latest acquisition of Skycon will further enhance our success and will help us further scale our company. Our new subsidiary operates on a commission-based model, which lines up with our goals excellently and will allow us to boost our revenues in the near future. This purchase has also provided us a great way of further expansion as we can scale Skycon across new operating jurisdictions and utilize our extensive partner network to enhance its offerings.”
remarked the Chief Executive Officer and co-Founder of Better Collective, Jesper Sogaard.