Golden Matrix has today finalized the acquisition of B2C sports betting and gaming group MeridianBet in a deal worth $300m.
Initially signed on January 12 2023, the deal then became drawn out due to a series of alterations. However, last month the Golden Matrix Board of Directors and shareholders approved the acquisition, which is now officially complete.
Currently, MeridianBet operates across 15 regulated markets across Africa, Europe and South America as an online sports betting and gaming group. The conversation surrounding alterations of terms first emerged last summer and saw the transaction value of the deal increase, following a strong performance from the operator.
In October, further amendments were made, as it was agreed that MeridianBet would contribute $30m towards closing costs.
By acquiring MeridianBet, Golden Matrix is set to extend its global footprint, now operating in 17 countries across four continents. Further, it will be hoping to combine MeridianBet’s B2C knowledge with its own B2B infrastructure to enhance both the company’s growth and its user experience in the coming years.
Golden Matrix CEO Brian Goodman said, “This is a momentous occasion, and one that we believe will result in a fundamental, as well as transformational, change for our rapidly growing company. The consolidated businesses are expected to deliver significant increases in both revenues and profitability; and we believe we are now well-positioned to continue our growth trajectory and deliver incremental value to all our stakeholders.”
The finalization of this acquisition comes shortly after Golden Matrix announced record revenue of $11.84m for Q1 2024.
