EveryMatrix to acquire FSB Technology in all-cash deal

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EveryMatrix has acquired FSB Technology, a leading global turnkey and specialist sportsbook technology provider, in an all-cash deal.

This acquisition will strengthen OddsMatrix, EveryMatrix’s tier-1 sportsbook platform and odds feeds division, generating immediate additional revenues, cross-company synergies, and establishing a significant presence in the UK, Ireland, and Africa, where FSB has a strong market share.

Founded in 2007 by Sam Lawrence and David McDowell, FSB is a leading B2B sportsbook technology supplier based in London. They offer comprehensive end-to-end turnkey solutions, including Player Account Management (PAM), sports betting, and casino platform solutions.

EveryMatrix will integrate key FSB features into its offerings, including a highly regarded horse racing product among sportsbook providers.

Customers will benefit from EveryMatrix’s superior modular products, which include casino, games aggregation, payments, player account management, managed services, affiliate management, and data tracking.

Once migrated to OddsMatrix, customers will gain access to proven tier-1 sportsbook and odds feeds products, as well as EveryMatrix’s technology, development, and resource pipeline. They will also benefit from decades of industry expertise, a 1,000-employee workforce across 13 locations worldwide, and a global network of partners.

OddsMatrix has launched several large-scale digital projects for tier-1 brands across Europe, including Bet-at-home and the Hungarian national lottery company’s (SZRT) online brand TippmixPro.

In 2023, OddsMatrix achieved record growth, profitability, and a record number of bets for tier-1 customers. It experienced a 75% year-on-year rise in total bets, a 90% increase in profitability, and a 31% rise in live events, totaling more than 1.8 million events for the year. This strong growth is expected to continue with the FSB acquisition.

Ebbe Groes, Group CEO of EveryMatrix, said:

I’m delighted to announce our purchase of FSB Technology and proud of the EveryMatrix team for making this deal happen so effortlessly. This is our most ambitious acquisition to date, by value, size, and complexity. There was a tremendous amount of internal teamwork to ensure this process was managed efficiently, which is a great credit to everyone. Our ability to quickly transact and complete this smoothly has been very impressive. This transaction supports our long-term growth strategy of entering and expanding in more regulated markets, including the UK, Ireland, and Africa, where many FSB clients operate. It also allows us to accelerate this process, diversify our customer and revenue profiles, and migrate customers to a stronger, high-performing product proven to deliver exceptional results.

Adam Smith, CEO of FSB Technology, added:

FSB has achieved significant milestones over the past 18-20 months, including expansion into new markets and launching innovative propositions. Joining EveryMatrix represents another major milestone for FSB. We are excited about the new opportunities this deal could create through sharing our unique capabilities and accelerating the growth of FSB’s existing partners.