Better Collective has obtained authorization from the Minister of Canadian Heritage to acquire Playmaker Capital. The company also reported that it obtained consent for the transaction from the Ontario Superior Court on January 24. The transaction was approved by Playmaker’s shareholders last month. After obtaining all required approvals, it is expected that the agreement will be finalized on February 6.
In November, affiliate marketing titan Better Collective announced its plans to buy Playmaker Capital for an amount of $192 million. As a result of its strategic acquisitions, Better Collective is well-positioned to dominate the South American market and solidify its position in the highly competitive North American market.
The acquisition is expected to strengthen Better Collective’s position in the ever-changing digital sports media industry by increasing size, and investment in product development, technology, and marketing.
Both the TSX Venture Exchange in Canada and the OTCQX in the US have registered Playmaker Capital’s shares. Among its many sports media holdings are Futbolsites.net, Yardbarker, and The Nation Network, among others. It takes pride in its diverse portfolio. It has been agreed that Better Collective will purchase them all.
From Canadian sports betting news, a total of 65% of the funding for the takeover will come from shares, with 35% coming from cash. Having finalized the agreement with Playmaker Capital, the company is reevaluating its financial objectives beginning in 2023 and continuing through 2027.
The acquisition of Playmaker is the most recent in a series of deals struck by Better Collective. Better Collective acquired Playmaker Capital in a strategic move subsequent to its effective acquisition of Playmaker HQ, an American sports media company, for $54 million in July 2023. The acquisition of Playmaker HQ was praised as a strategic move to access a vast and previously untapped demographic of actively involved general sports enthusiasts in the United States.
Better Collective announced the acquisition of four premier sports media companies owned by Everysport Group, which also owned SvenskaFans.com, around the middle of 2023. HockeySverige.se, Fotbolldirekt.se, and Innebandymagazinet.se were subsequently added. Each of these businesses received nine million monthly connections from sports enthusiasts in Sweden.
The acquisition of Playmaker is expected to significantly enhance the company’s market position in Europe. The total cost of the takeovers was $4 million, which was distributed among three payment installments.