Futbin, the leading esports brand dedicated to FIFA games, boasts an impressive audience of 50 million monthly viewers on its website and three million daily active users on its app.
In a significant move for Better Collective, they have acquired Futbin for a total fee of €105m, consisting of €70m in cash and €5m worth of existing shares upfront, along with €30m in earnout payments spread over the next two years.
Better Collective financed this acquisition and other deals by expanding its credit lines with Nordea Bank by €100m.
Jesper Søgaard, CEO and co-founder of Better Collective, mentioned that they may continue to pursue other esports-related acquisitions, as the esports industry is growing and attracting more global audiences, including professional athletes.
The acquisition of Futbin and its related assets furthers Better Collective’s ambition to create a platform that reaches esports audiences worldwide.
Futbin generated €13m in revenue in the last 12 months, boasting a growth rate of 55% per year since 2019. Most of this revenue came from ad sales and subscriptions, providing Better Collective with a significant diversification of revenue beyond sports betting activities.
Better Collective now has over 100 million views per month across its esports platforms after the acquisition, expanding its presence in the esports world.
Earlier, in March 2020, Better Collective acquired HLTV.org, specializing in Counter-Strike: Global Offensive, in a deal worth up to €34.5m. This acquisition grants Better Collective unique access to the esports audience, which is crucial for retail and consumer brands’ global positioning.
The increased scale resulting from these acquisitions allows for optimized revenue streams through improved partnerships.
As a result of the Futbin acquisition, Better Collective has raised its financial targets for 2022, projecting its earnings before interest, tax, depreciation, and amortization (EBITDA) to reach €85m, surpassing the previously projected €80m.
