EveryMatrix has completed the acquisition of FSB Technology, a global provider of complete turnkey and specialty sportsbook technology, in an all-cash transaction.
The acquisition will strengthen EveryMatrix’s tier 1 sportsbook platform and odds feed division, OddsMatrix, generating immediate additional revenue, creating synergies between the companies and strengthening its presence in the UK, Ireland and Africa, where FSB has significant market share.
Founded in 2007 by Sam Lawrence and David McDowell, FSB is a London-based B2B sportsbook technology supplier offering comprehensive turnkey solutions including Player Account Management (PAM), sports betting and casino platform solutions.
EveryMatrix plans to integrate FSB’s key capabilities into its existing products, particularly FSB’s renowned horse racing product. Customers will benefit from EveryMatrix’s modular offering, which includes casino gaming and aggregation, payments, player account management, managed services, affiliate management, data tracking and more.
As FSB transitions to OddsMatrix, customers will gain access to its proven sportsbook and odds feed products, as well as EveryMatrix’s extensive technology, development resources, industry expertise and global partner network.
OddsMatrix has experienced significant growth and has launched several large-scale digital projects for Tier 1 brands across Europe, including Bet-at-home and Hungarian National Lottery Company’s (SZRT) online brand TippmixPro. In 2023, OddsMatrix achieved record growth and profitability, with total bets up 75% year-on-year, profitability up 90% and live events up 31% to a total of more than 1.8 million for the year. The acquisition of FSB is expected to further this strong growth trajectory.
Ebbe Groes, group CEO at EveryMatrix, said: “We are pleased to announce the acquisition of FSB Technology and are proud of the EveryMatrix team who have worked so hard to bring this transaction to fruition so smoothly.”
“This is our most ambitious acquisition to date in terms of value, scale and complexity. There has been a lot of internal teamwork behind the scenes to ensure this process was managed efficiently – a credit to everyone. Our ability to transact quickly and get this done so smoothly is extremely impressive.”
“This transaction furthers our long-term growth strategy to enter and grow into more regulated markets, including the UK, Ireland and Africa, where many of our FSB clients operate. It also enables us to accelerate this process and diversify our customer and revenue profile, while transitioning customers to stronger, higher performing products that are proven to deliver superior outcomes.”
Adam Smith, CEO of FSB Technology, said: “FSB has achieved a lot over the last 18-20 months, including expanding into new markets and launching innovative propositions. Our partnership with EveryMatrix marks another major milestone for FSB. We are excited about the new opportunities this transaction will create by sharing our unique capabilities and accelerating the growth of FSB’s existing partners.”
