Paddy Power plc has merged with Betfair Group plc
Two of the fastest growing online betting operators — Paddy Power plc and Betfair Group plc — have merged. The new entity, Paddy Power Betfair plc, is worth c. US$11 billion, making it one of the world’s largest public online betting and gaming companies by revenue with enlarged scale, capability and distinctive complementary brands.
Paddy Power is an international multi-channel betting and gaming group, offering online services and a chain of retail outlets throughout Ireland, Northern Ireland and Great Britain.
Betfair is an innovative online betting and gaming operator, which pioneered the betting exchange model in 2000, changing the landscape of the sports betting industry.
Paddy Power Betfair has a market-leading presence in the UK, Ireland, Australia and the USA, as well as a range of B2C and B2B operations across Europe. Since the initial proposed merger announcement, the combined equity value has increased by c. 70%, reflecting the resounding shareholder and market support for the transaction. Paddy Power Betfair will join the FTSE 100 index and will also be a constituent of MSCI European large-cap indices.
The merger was implemented by Paddy Power plc making an all paper offer for Betfair Group plc. Oaklins' team in Ireland advised Paddy Power on, inter alia, negotiation of the merger terms, deal management, financial analysis, development of the investment story and stakeholder management. Our Irish team has been a longstanding advisor to Paddy Power, advising on public offer issues, acquisition strategy and the acquisition of Sportsbet Australia (alongside Oaklins' Australian team) and Cayetano.
Talk to the deal team
Related deals
Aareon AG has sold phi-Consulting GmbH to the management team
Aareon AG has sold phi-Consulting GmbH to the company’s management team.
Learn moreNova Consulting Group becomes majority shareholder in Egde Consulting
Nova Consulting Group AS (NOVA) has become the new majority owner of Egde Consulting AS (Egde). With the acquisition, NOVA will significantly improve its foothold in the Norwegian market. The founders and existing employee-shareholders of Egde will retain a significant part of their shareholding in the company and the new ownership model will give all employees in Egde the opportunity to take part in the long-term value creation as co-owners of the company.
Learn moreHE Space has been acquired by CS Group
With this acquisition, CS Group increases its European presence in space to nearly 800 employees. The group would thus strengthen its installed base in the Netherlands, Germany and France and expand its development prospects in Spain and the UK. This acquisition will ensure a stronger presence with institutional organizations such as ESA’s ESOC and ESTEC agencies, EUMETSAT and industrial companies such as Airbus, Thales and OHB.
Learn more