A leading international marketing firm, Better Collective, has expanded its footprint in the American market through the purchase of Skycon Limited for $56 million (£45 million). This agreement will incorporate Skycon into Better Collective’s paid media branch, broadening its scope to a larger demographic.
This tactical maneuver aligns with Better Collective’s ongoing initiatives to shift towards a recurring income framework, primarily through profit-sharing contracts. Skycon, already functioning on a comparable revenue-sharing system, seamlessly integrates into Better Collective’s current network.
Jesper Søgaard, CEO and co-founder of Better Collective, conveyed his excitement regarding the acquisition, asserting that Skycon will substantially gain from their proficiency in media purchasing, ultimately propelling revenue expansion.
The acquisition will be organized as an initial payment of £25 million, with a supplementary earn-out payment of up to £20 million contingent upon Skycon’s financial achievements.
Due to this acquisition, Better Collective has adjusted its revenue forecasts for 2023, raising the range from €290 – €300 million to €305 – €315 million.
This chance held significant expansion possibilities, as we recognized. By capitalizing on it, we can connect with a wider range of collaborators, penetrate untapped sectors, and elevate everything through our distinctive sports media insights.
This agreement solidifies our dominance within the industry.”
This development follows closely on the heels of Better Collective’s proclamation of a 52% surge in revenue for 2022 compared to the previous year.