Better Collective Acquires Skycon for £45 Million, Raises 2023 Revenue Outlook

A leading force in international marketing, Better Collective, has acquired Skycon Limited for a substantial £45 million (around $56 million). This calculated maneuver has caused them to revise their fiscal objectives for 2023.

With the addition of Skycon, Better Collective is setting its sights higher. They are incorporating Skycon’s proficiency into their paid media endeavors, enabling them to connect with a broader audience for their messaging. Skycon will become an integral element of Better Collective’s sports wagering network, strengthening their foothold in the US market and contributing to their evolving AdTech platform.

Jesper Søgaard, the visionary co-founder and CEO of Better Collective, expressed his enthusiasm: “We’ve dedicated ourselves to constructing a formidable paid media division, concentrating on transforming revenue into enduring alliances. Incorporating Skycon is akin to injecting our efforts with a catalyst. They are an exceptional organization that functions on the same revenue-sharing principle we champion.”

To finalize the agreement, Better Collective is providing an initial payment of £25 million in cash, with the possibility of an extra £20 million contingent on Skycon’s achievements. This acquisition has prompted Better Collective to modify their 2023 revenue projection, elevating it from €290-€300 million to €305-€315 million (roughly $318-$329 million).

Søgaard aptly concluded: “This collaboration is an ideal pairing. We can utilize our media purchasing capabilities to empower Skycon to reach its full potential.”

A distinct roadmap for growth is also apparent. This strategic purchase allows us to connect with a wider range of collaborators, penetrate untapped sectors, and capitalize on our exclusive athletic information.”

This development follows closely on the heels of Better Collective’s remarkable 2022 fiscal year, during which they declared a 52% upswing in earnings just a few weeks prior.