Better Collective Acquires Skycon Limited
Better Collective expands its efforts within digital display advertising by acquiring Skycon Limited for a total consideration of up to £45 million (€51 million/$56 million).
Skycon is a British company founded in 2017 and is run out of Newcastle-under-Lyme, England. The company specializes in display advertising with an ‘audience-based’ approach, which is paid advertising on channels such as sports media. Skycon’s approach is highly complementary to Better Collective’s existing Paid Media approach with a ‘search engine-based’ approach. The acquisition will increase the addressable market for Better Collective’s Paid Media division and will further increase its value proposition towards the Group’s diverse business partners.
Better Collective will integrate the business into its existing Paid Media operations and will take over Skycon’s substantial recurring revenue share database. Skycon has seen great growth, which Better Collective expects to fuel further with several cross-selling synergies, while also improving its own business through operational synergies.
Jesper Søgaard, Co-founder & CEO of Better Collective: “We have invested heavily in growing our Paid Media division to reach its current significant scale, while we also have invested in moving revenues to recurring revenue share contracts. During the past year, our efforts have proven successful and acquiring Skycon will be highly synergistic to this journey. Skycon is a great business, which is built on Better Collective’s favored revenue share model. It is a perfect fit as we can leverage our leading skill set within media buying to grow Skycon’s revenues. We also see a clear path to further growth as the asset can be scaled across more of our business partners, into new territories, and optimized with our unrivaled first party data in sports media. This acquisition will further deepen our moat.”