UK-based financial services provider IG Group has announced the acquisition of US fantasy sports and prediction market platform Underdog. The transaction is valued at $1.3 billion.
Deal Overview
The acquisition transfers Underdog’s fantasy sports operations and prediction market infrastructure to IG Group. Underdog currently functions as a US-based platform specializing in daily fantasy contests and user-driven forecasting markets. IG Group will incorporate these services into its existing portfolio of trading and gaming solutions.The agreement expands IG Group’s operational footprint in the American interactive sports sector. Underdog will maintain its current market positioning and user base following the transaction. Final terms of the acquisition have been confirmed by both companies.