We are pleased to announce that IG Group has agreed to acquire Underdog Sports for total consideration of up to $1.3 billion.
IG Group is an FTSE 100 financial technology company, operating at the intersection of retail trading, technology and capital markets. Through its portfolio of brands the company serves more than 1.4 million customers globally.
Underdog, was founded in 2020 and has become a leading U.S. daily fantasy sports and prediction markets operator with approximately one million average monthly active users, more than five million depositing customers and over 11 million registered accounts. While historically a leading daily fantasy sports platform in the United States, Underdog is undergoing a business transition to prediction markets – a high growth sector that is providing Underdog with access to more states and more creative product formats.
Raine served as lead financial advisor to IG Group on the transaction.
Congratulations to all involved!
