Better Collective wraps up $240m acquisition of Action Network
Better Collective, a Danish sports betting media group, has wrapped up its previously announced $240 million acquisition of Action Network, an American sports betting product and media company.
The deal was announced in early May.
Action Network, which was founded in 2017 by The Chernin Group and launched in the following year, provides news, premium insights, betting tools, data, and odds to sports bettors in the US.
It was formed by combining three companies, which include bet-tracking and scores app SportsAction, Sports Insights – a betting terminal for pros, and daily fantasy modeling platform FantasyLabs.
Better Collective wraps up $240m acquisition of Action Network. Logo courtesy of Action Network Inc.
Following the change of ownership, Action Network will now operate as an integral part of Better Collective US. It will continue to operate as a separate business unit with its current brands, management team led by CEO Patrick Keane, and employees, reporting to Better Collective US CEO Marc Pedersen.
Jesper Søgaard – Co-founder and CEO of Better Collective said: “We are excited to finalize the acquisition of Action and to formally welcome its employees to the Better Collective Group. This acquisition gives us a leading position within sports betting media in the US and a strong foundation for profiting from the continuous regulation of the US betting market.”
The deal with Action Network follows Better Collective’s acquisition of Swedish online sports betting media Rekatochklart.com in March 2021.