Last week, SBC and Gaming&Co exclusively revealed that EveryMatrix has acquired sportsbook solutions provider FSB Technology (FSB) in an all-cash deal for an undisclosed sum.

After officially taking over the company, EveryMatrix is now working to migrate FSB’s clients onto its proprietary turnkey technology.

Following the announcement, EveryMatrix CEO, Ebbe Groes, appeared in a video on the company’s YouTube channel to explain the reasoning behind the move. 

He said: “Both of us have some strengths and the core rationale for this exercise is to take the union of these two companies and produce something even better than what each of us have been able to do stand alone. 

“Being a business supplier is very much about scale. Get many clients, build once, and sell many times. That gives you the profitability you need to keep investing in the products. With FSB added, we get an even better scale.”

Groes also explained that the acquisition will provide market entry for EveryMatrix in regions in which it currently doesn’t have a presence in, like Africa and the UK.

Current FSB clients include the Baltics-facing bookmaker OlyBet, UK horse racing-focused Fitzdares and African-focused brands such as Paribet and Nairabet. 

Following the acquisition, EveryMatrix will be able to integrate features of FSB’s sportsbook technology into its offering, with Groes claiming that being able to combine the two organisations strengths will allow EveryMatrix to “stand out as the b2b supplier with the best turnkey solution when you look at it from a sports perspective”.

He added: “One of the great advantages of FSB is that they are extremely strong in horse racing. They have an in-house training team. They have worked on this for years.

“They have some very dedicated clients in the UK and Ireland where horse racing is at the forefront of everything they do. It is very different from what we have known and done at EveryMatrix and with FSB added with their technology and their client base, we stand to gain a lot in this area.”

Part of EveryMatrix’s proprietary sportsbook technology is its OddsMatrix sportsbook which achieved its best year in 2023.

The brand experienced record growth, profitability and a record number of bets for tier-1 customers. This included a 75% year-on-year rise in total bets and profitability up by 90%. Live events also rose by 31% to more than 1.8 million for the year.