EveryMatrix, a prominent player in the iGaming industry, has announced the acquisition of FSB Technology, a renowned global provider of comprehensive sportsbook technology solutions, in a significant all-cash transaction.
This acquisition is set to enhance OddsMatrix, EveryMatrix’s top-tier sportsbook platform and odds feeds division. The integration promises immediate revenue growth, operational synergies, and solidifies EveryMatrix’s presence in the UK, Ireland, and Africa, where FSB holds substantial market share.
Established in 2007 by Sam Lawrence and David McDowell, FSB Technology is a leading B2B sportsbook technology provider based in London. It specializes in delivering complete end-to-end turnkey solutions, including Player Account Management (PAM), sports betting, and casino platforms.
Key features from FSB will be integrated into EveryMatrix’s offerings, notably their highly acclaimed horse racing products. Customers will also benefit from EveryMatrix’s extensive suite of modular products, including casino games, payments, player account management, managed services, affiliate management, and data tracking.
Once integrated into OddsMatrix, clients will gain access to proven tier-1 sportsbook and odds feed products, as well as EveryMatrix’s cutting-edge technology, robust development resources, and vast industry expertise. EveryMatrix boasts a 1,000-strong workforce across 13 global locations and a wide network of partners.
OddsMatrix has demonstrated impressive growth, launching numerous large-scale digital projects for tier-1 brands across Europe, including Bet-at-home and the Hungarian national lottery company’s (SZRT) online brand TippmixPro. The platform achieved its best performance in 2023, with record growth, profitability, and a record number of bets for tier-1 customers. OddsMatrix saw a 75% YoY increase in total bets, a 90% rise in profitability, and a 31% increase in live events, totalling over 1.8 million events for the year. The acquisition of FSB Technology is expected to sustain this momentum.
Ebbe Groes, Group CEO of EveryMatrix, expressed his enthusiasm: “I am thrilled to announce our acquisition of FSB Technology. The dedication and efficiency of the EveryMatrix team in closing this deal have been exceptional. This is our most ambitious acquisition to date in terms of value, scale, and complexity. The seamless execution of this transaction is a testament to our team’s capability.
“This acquisition aligns with our long-term strategy to expand into more regulated markets, including the UK, Ireland, and Africa, where many FSB clients operate. It enables us to accelerate our growth, diversify our customer and revenue base, and migrate clients to a superior, high-performing product that consistently delivers outstanding results.”
Adam Smith, CEO of FSB Technology, added: “FSB has made significant strides over the past 18-20 months, expanding into new markets and launching innovative propositions. Joining forces with EveryMatrix marks a significant milestone for FSB. We are excited about the new opportunities this deal brings, enhancing our capabilities and accelerating the growth of FSB’s existing partnerships.”
