EveryMatrix has acquired FSB Technology, a leading global full turnkey and specialist sportsbook technology provider, in an all-cash deal.
The acquisition will further bolster OddsMatrix, EveryMatrix’s tier-1 sportsbook platform and odds feeds division, generating immediate additional revenues, cross-company synergies and firmly establishing a presence in the UK, Ireland and Africa where FSB has strong market share.
Founded in 2007 by Sam Lawrence and David McDowell, FSB is a leading B2B sportsbook technology supplier based in London, offering full end-to-end turnkey solutions including Player Account Management (PAM), sports betting and casino platform solutions.
EveryMatrix will incorporate key FSB features into its offering, including what has been recognised as one of the strongest horse racing products among sportsbook providers.
Customers will further benefit from EveryMatrix’s superior modular products including casino, games and aggregation, payments, player account management, managed services or affiliate management and data tracking.
Once migrated to OddsMatrix, they will gain access to proven, tier-1 sportsbook and odds feeds products, as well as EveryMatrix’s technology, development and resource pipeline, decades of industry expertise within its 1,000-employee strong workforce across 13 locations worldwide and a global network of partners.
OddsMatrix has gone from strength-to-strength launching several large-scale digital projects for tier-1 brands across Europe including Bet-at-home and the Hungarian National Lottery (SZRT) company’s online brand, TippmixPro.
In 2023, OddsMatrix set record growth, profitability and number of bets for tier-1 customers. It experienced a 75% year-on-year rise in total bets, skyrocketing profitability up 90% while also driving live events up by 31% to more than 1.8 million events for the year. With the FSB deal, this strong growth is set to continue.
Ebbe Groes, Group CEO of EveryMatrix, says: “I am delighted to announce our purchase of FSB Technology and I am proud of the EveryMatrix team that has been involved in making this deal happen so effortlessly.
“This is our most ambitious acquisition to date, by value, size and complexity. There was a huge amount of internal teamwork behind the scenes to ensure this process was managed efficiently which is a great credit to everyone.
“This transaction facilitates our long-term growth strategy of entering and growing within a greater number of regulated markets, including the UK, Ireland and Africa, where many FSB clients operate. It allows us to accelerate this process, diversify our customer and revenue profiles, while simultaneously migrating customers to a stronger, high performing product proven to deliver exceptional results.”
Adam Smith, CEO of FSB Technology, adds: “FSB has achieved a lot over the last 18-20 months, including expansion into new markets and launching innovative propositions.
“Joining with EveryMatrix represents another major milestone, and we are delighted and excited by the new opportunities this deal could create, through the sharing of our unique capabilities as well as accelerating the growth of FSB’s existing partners.”
