Gambling.com Group has announced the final agreement to acquire Odds Holdings, the parent company of OddsJam.
The initial purchase price is $80 million, with an additional $80 million possible based on performance in 2026.
This acquisition will integrate OddsJam's technology platform, which provides real-time odds data to nearly 300 sports betting companies, into the operations of Gambling.com Group.
The flagship brand OddsJam offers odds insights through its website and app, while Odds Holdings provides sports betting application data to corporate clients. The platform processes over a million requests per second and handles several terabytes of data daily.
The transaction is expected to be completed on January 1, 2025, and will immediately contribute to the financial performance of Gambling.com Group, increasing recurring revenue from consumer subscriptions and corporate partnerships.
Odds Holdings is expected to generate revenue of $26 million in 2024, with an adjusted EBITDA of $12 million, and is expected to grow by at least 20% in 2025 under the management of Gambling.com Group.
Charles Gillespie, CEO of Gambling.com Group, emphasized the importance of this acquisition, stating: "The value-added acquisition of Odds Holdings will immediately provide Gambling.com Group with additional recurring revenue sources, independent of our market-leading online gambling affiliate business, aligning with our strategy to expand our influence in the online gambling industry.
"We are excited to welcome the Odds Holdings team to Gambling.com Group as we accelerate growth towards our target of $100 million in adjusted EBITDA. Their talented team has not only built the most advanced odds technology platform but has also managed to create a variety of unique products with very clear product-market fit on that platform.
Good news: As part of the acquisition, the Odds Holdings team (including founders Ankit Goyal and Alex Monahan and CEO Matt Restivo) will join Gambling.com Group
"Odds Holdings provides Gambling.com Group with a range of new corporate products, while OddsJam brings a new, enthusiastic, and vibrant consumer audience to the group."
Matt Restivo, CEO of Odds Holdings, added: "Merging with a technology-focused global leader in the online gambling industry like Gambling.com Group is a natural next step for Odds Holdings.
"By leveraging the expertise, innovation, and resources of Gambling.com Group, we will be able to optimally expand our technology and data-driven insights to cover a larger online betting audience, including markets outside North America."
The transaction will be financed through cash, stock, and a $100 million expanded credit line secured by Wells Fargo.
