Everysport Group divests betting and horse racing operations for a total of SEK 20.5 million
Everysport Group AB (publ) ("Everysport" or the "Company") has today entered into an agreement with Interactive Wall Systems Development in Sweden AB (''IWSD'' or the "Buyer") to divest 100 percent of the shares in Daytime Media House AB and Trav Og Galoppnytt AS with subsidiaries. The purchase price amounts to a total of MSEK 20.5, of which MSEK 15 is paid in cash on the closing date of November 1, 2023. The remaining SEK 5.5 million will be paid over a three-year period. The transaction includes Everysport's operations within betting and horse racing. In addition to enabling expanded strategic initiatives around sports-tech and sports data, the divestment is also expected to have a positive impact on Everysport's profitability.
"We continue to execute on our strategic plan to deliver long-term growth and profitability. Today's transaction marks an important starting point for Everysport's expanded investments in sports-tech and sports data. We look forward to giving the brands a promising future under a new management team and wish all employees the best", says Hannes Andersson, CEO of Everysport Group.
"The portfolio contains several strong brands with international potential. Under the Daytime Media House brand, the goal is to create a new Nordic full-service provider of betting information including sports and horse racing coverage. With an experienced team in place, we believe the brands have a bright future and look forward to welcoming our new colleagues," says Mattias Yrgård Lerfors, CEO, IWSD in Sweden.
The transaction
In the transaction, Everysport Group divests 100 percent of the shares in the companies Daytime Media House AB including the subsidiary Daytime Media House AS, Media-Fon AS and ESMG Norway AS including the subsidiary Trav Og Galoppnytt AS to the buyer. The brands involved include Travtjänsten, Dagens Spel, Sporttjänsten, Snoken, Andelstorget, Trav Og Galoppnytt (Norway) and Stallskriket (Norway) among others. Hest.no is part of Everysport's equestrian initiative and is not part of the transaction.
Purchase price and closing of the transaction
The purchase price amounts to SEK 20 million, of which SEK 15 million will be paid in cash on the closing date. The remaining SEK 5.5 million will be paid over a period of three years. The closing of the transaction, which is subject to customary conditions, is expected to take place on November 1, 2023.
Background and rationale
Everysport has historically had great success with products based on sports tech and sports data, including Elite Prospects, which has become the world's leading hockey platform with over 20,000 paying subscribers. The rationale of the transaction is to align the existing portfolio with the new strategic direction, while freeing up resources for increased organic efforts and new investments in sports tech and sports data.
For more information, please contact:
Hannes Andersson, CEO, Everysport Group AB
Phone: +46 70 736 56 25
E-mail: hannes.andersson@everysport.com
Mattias Yrgård Lerfors, CEO, IWSD in Sweden AB
Phone: +46 73 984 28 14
E-post: mattias.yrgard@dmh.se
About Everysport Group (publ)
Everysport Group is a Swedish sports tech and media Group that owns, operates, and develops digital platforms. The portfolio comprises more than 35 brands, including the world's leading hockey platform, Elite Prospects, with 20,000 paid subscribers, more than 300,000 members and 1,5 million unique visitors per week. Everysport Group's headquarter is located in Stockholm, with a local presence in Norway and the US. The company is listed on the Spotlight Stock Market under the ticker EVERY.
This disclosure contains information that Everysport Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 24-10-2023 18:09 CET.
Any questions answered by:
Hannes Andersson, CEO, Everysport Group AB, tel: +46 70 736 56 25
e-mail: hannes.andersson@everysport.com
Everysport Group is a group within sports. The business is divided into two business areas: Everysport Media and Every Padel. Within Everysport Media, digital platforms and services in sports are owned and developed, and within the business area Every Padel, operations are conducted within the fast-growing sport of padel. The group has a total of approx. 110 employees. The head office is in Stockholm, the company also has offices in Norway and the USA. Everysport Group AB (publ) is listed on Spotlight Stock Market (EVERY).