EveryMatrix has completed the acquisition of FSB Technology, a global provider of full turnkey and specialist sportsbook technology, through an all-cash deal.
This acquisition will enhance EveryMatrix’s OddsMatrix, its tier-1 sportsbook platform and odds feeds division, by generating immediate additional revenues, creating cross-company synergies, and establishing a stronger presence in the UK, Ireland, and Africa, where FSB has a significant market share.
Founded in 2007 by Sam Lawrence and David McDowell, FSB is a B2B sportsbook technology supplier based in London, offering comprehensive turnkey solutions including Player Account Management (PAM), sports betting, and casino platform solutions.
EveryMatrix plans to integrate key FSB features into its existing offerings, notably FSB’s renowned horse racing product. Customers will benefit from EveryMatrix’s modular products, which include casino games and aggregation, payments, player account management, managed services, affiliate management, and data tracking.
Once FSB is migrated to OddsMatrix, customers will gain access to proven sportsbook and odds feeds products, along with EveryMatrix’s extensive technology, development resources, industry expertise, and global partner network.
OddsMatrix has seen substantial growth, launching several 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. In 2023, OddsMatrix achieved record growth and profitability, with a 75% year-on-year increase in total bets, a 90% rise in profitability, and a 31% increase in live events, totaling more than 1.8 million for the year. The acquisition of FSB is expected to further this strong growth trajectory.
Ebbe Groes, Group CEO of EveryMatrix, said: “I’m delighted to announce our purchase of FSB Technology and I’m 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. Our ability to quickly transact and get this over the line so smoothly has been very impressive.
“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 also 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, said: “FSB has achieved a lot over the last 18-20 months including expansion into new markets and launching innovative propositions. Joining together with EveryMatrix represents another major milestone for FSB. 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.”
