EveryMatrix to Purchase FSB Technology.

Betting platform provider EveryMatrix announced today that it has come to terms to purchase sportsbetting software group FSB Technology in an all-cash offer.

The terms of the deal weren't made publicly available, but the company said that they'll use the purchase to enhance its EveryMatrix sportsbetting platform. Of note is FSB's horseracing and casino products, which will also be worked in. There hasn't been any mention of regulatory processes, so it looks like the purchase will go through without too much effort. At press time, FSB's website had a press release announcing the purchase by EveryMatrix and a link back to the website.

London-based FSB Technology has been in operation since 2007 and currently employs more than 200 people. The fate of the company's employees hasn't been revealed as of yet.

EveryMatrix CEO Ebbe Groes commented on the agreement, noting: "I'm delighted to announce our purchase of FSB Technology and I'm proud of the EveryMatrix team that has been involved in making this deal happen so effortlessly.

"This is our most ambitious acquisition to date, by value, size, and complexity. There was a huge amount of internal teamwork behind the scenes to ensure this process was managed efficiently which is a great credit to everyone. Our ability to quickly transact and get this over the line so smoothly has been very impressive.

"This transaction facilitates our long-term growth strategy of entering and growing within a greater number of regulated markets, including the UK, Ireland and Africa, where many FSB clients operate. It also allows us to accelerate this process, diversify our customer and revenue profiles, while simultaneously migrating customers to a stronger, high performing product proven to deliver exceptional results."

FSB Technology CEO Adam Smith added: "FSB has achieved a lot over the last 18-20 months including expansion into new markets and launching innovative propositions. Joining together with EveryMatrix represents another major milestone for FSB. We are delighted and excited by the new opportunities this deal could create, through the sharing of our unique capabilities as well as accelerating the growth of FSB's existing partners."