MAR 26 DE NOVIEMBRE DE 2024 - 15:43hs.
Sports media business

Entain buys Israeli sports app 365Scores for $160m

UK betting group Entain, which owns Ladbrokes, has announced the acquisition of Israeli sports media company 365Scores for $150 million and milestone payments of up to $10 million. 365Scores provides scores and sports information, editorial and social content, as well as sports-focused free-to-play games.

The company has a global audience of over 15 million active users and is ranked amongst the top five scores apps worldwide.

365scores, founded in 2012, offers coverage of 10 different sports and more than 2,000 competitions across the world.

Over the years, Entain added several betting groups to its portfolio, including five in 2022, when it expanded into Canada, the Netherlands and other parts of Europe.

Entain ventured into Central and Eastern Europe last year with its acquisition of Croatia's SuperSport Group.

In March, the gambling company's Chief Financial Officer Rob Wood said that mergers and acquisitions remained key to the company's growth strategy.

Entain's most popular brands, Ladbrokes, Coral and bwin, were bought through acquisitions.

"The combination of 365scores' deep expertise in data-driven sports media content alongside Entain's global scale and market leading platform capabilities will provide customers with a broader offering of interactive content and experiences," the gambling company said.

365Scores was founded by Ami Serkis, Roei Aharoni, Yevgeny Brener, and Roy Hayumi. The company's most recent known financing round was back in 2014 when it raised $5.5 million from LETA Capital, Cedar Fund, Titanium Investments and private investors

Source: GMB