Better Collective completes Action Network acquisition

Stockholm-listed Better Collective has completed the acquisition of US sports betting media platform Action Network for $240m.

Action Network now becomes an integral part of Better Collective US and will continue to operate as a separate business unit with its current brands, management team, and employees. The team will continue to be led by CEO Patrick Keane, who will report into Better Collective US chief executive Marc Pedersen.

“We are excited to finalize the acquisition of Action and to formally welcome its employees to the Better Collective Group,” said Better Collective co-founder and CEO Jesper Søgaard. “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.”

Action Network CEO Patrick Keane commented: “With Better Collective’s experience and capabilities, we have the resources to continue growing our already leading sports betting product and media business, in order to ultimately enhance the betting and entertainment experience for sports fans in the US.

“I’m pleased that Action now officially joins the Better Collective Group and look very much forward to the journey ahead.”

Shares in Better Collective A/S (STO:BETCO) closed 0.7 per cent higher at SEK215.00 per share in Stockholm Monday.