Gambling.com Group has agreed to buy Odds Holdings, the parent company of OddsJam, in a deal worth up to $160 million.
The New York-listed affiliate has offered an initial consideration of $80 million, with another $80 million based on Odds Holdings’ business performance through to the end of 2026.
The transaction is due to close on 1 January 2025 and will contribute to the company’s goal of achieving $100 million in annual adjusted EBITDA.
Odds Holdings expects to generate revenue and adjusted EBITDA of around $26 million and $12 million, respectively, in 2024. Gambling.com Group predicts that under its stewardship, adjusted EBITDA derived from Odds Holdings will grow by at least 20 per cent in 2025.
The affiliate will integrate Odds Holdings’ technology suite, which is built for scalability and capable of processing over 1 million requests per second while managing terabytes of data daily. The company’s flagship brand, OddsJam, delivers real-time odds to sports bettors while also providing clients with low-latency, comprehensive odds data solutions.
Once the acquisition has been completed, OddsJam founders Ankit Goyal and Alex Monahan, alongside CEO Matt Restivo, will join Gambling.com; however, their roles have yet to be disclosed.
“The accretive acquisition of Odds Holdings will immediately provide Gambling.com Group with additional, recurring revenue streams which are independent of our market-leading online gambling affiliate business, consistent with our strategy to expand our footprint in the online gambling industry,” commented Gambling.com CEO Charles Gillespie.
Restivo added: “Combining with a tech-focused leader in the global online gambling industry like Gambling.com Group is the natural next step for Odds Holdings.
“By leveraging Gambling.com Group’s expertise, innovation and resources, we will be optimally positioned to scale our technology and data-driven insights to reach an even larger audience of online bettors, including beyond the North American market.”
Shares in Gambling.com Group Ltd. (NASDAQ:GAMB) gained 17.78 per cent to close at $15.63 per share in New York Thursday.