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Stoyan Todorov March 1, 2020 3 min read
Better Collective Acquires HLTV.org ApS for $37.9M
Sports betting investment company and media firm Better Collective has secured the acquisition of flagship esports portal HLTV.org ApS, the company that controls the namesake Counter-Strike: Global Offensive community portal.
Better Collective agreed to pay a massive $37.9 million for the acquisition in light of the recent financial performance by HLTV.org ApS which posted 27 million monthly visits and a massive $4.8 million revenue generated during the FY 2018/2019.
Commenting on these developments, Better Collective CEO Jesper Søgaard, said: “We have carefully analyzed and monitored esport for a long time. It is a rapidly growing industry and we consider esports an ideal extension to our sports-focused business. The nature of esports betting differs significantly from traditional sports betting and, therefore, it was essential to find the right partner, adding deep know-how and industry knowledge to Better Collective.”
Mr. Søgaard continued by expressing his belief that the acquisition was the right strategic move. He further noted of the well-established footprint of HLTV.org and hinted at the “strong synergies” the companies could expect as a result.
All in all, he continued, bringing HLTV.org ApS to the fold would bring a prosperous future for both parties.
HLTV.org Draws Close to 27 Million Organic Visitors a Month
HLTV.org ApS also controls Dust2.dk, a Danish Counter-Strike community project posting news updates, interviews with popular players, and other relevant information, including tournament coverage. HLTV.org, on the other hand, is a project that focuses on the Counter-Strike community worldwide.
The website first launched in 2002 and has amassed a solid social media following which has led to the outstanding monthly numbers. In fact, the official press release states that HLTV.org fetches 27 million organic visits per month.
As to Dust2.dk, the Danish-facing website adds another 250,000 unique visitors per month, making the HLTV.org ApS controlled assets two of the most popular esports websites online. So far, HLTV.org has relied on promoting and advertising esports betting companies, but the company is looking beyond this, establishing new baseline of operation.
HLTV.org CEO Martin Rosenbæk similarly expressed his confidence about the latest business deal: “Joining the Better Collective group will support our ambition to remain the preferred CS:GO brand for esports enthusiasts across the world.”
In his official statement, Mr. Rosenbæk argued that the deal of Better Collective allows HLTV.org to team up with “the optimal partner” and better the prospects of the project.
A Community Leader for 15 Years
For 15 years now, HLTV.org has been essential to the development of the Counter-Strike community, an asset Mr. Rosenbæk now wants to combine with Better Collective’s deep understanding of user-enhancing technology.
Ultimately, HLTV.org is strongly positioned to achieve further growth that will benefit CS:GO fandom and business operations worldwide.
Better Collective will commit $26.1 million in a cash and another $3 million will come in the form of Better Collective A/S. The final $8.9 million will be paid over the course of the next three years as part of three separate payments.
However, these payments will be negotiated based on the platform’s progress and achieving specific pre-determined milestones. Information about these has not been disclosed. The news was also reported by Reuters, catching the eye of the large media outlet.