The online sports information and gaming firm is one of the UK’s best known web brands, with such sites under its wing as Planet Rugby, Football365 and Cricket365.
The offer made by Sky is 68p in cash for each 365 Media Share, valuing the entire issued share capital of 365 Media at approximately £96m and the fully diluted share capital of 365 Media at approximately £103m.
Said 365 Media’s chief executive officer, Eric Semel: “365 Media has grown from a small online sports book into a substantial online presence across Europe, with a broad reach of online gaming and betting products together with a network of leading online sports brands.”
Added Jeremy Darroch, BSkyB’s finance director: “The acquisition of 365 Media will contribute to Sky’s aim of being a leading provider of online sports and gaming services.
“Bringing together 365 Media’s extensive network of sports and gaming websites with our own Sky Sports and SkyBet businesses will allow us to reach a broader audience.
“This will give us greater presence in online advertising and will position us to take full advantage of growing opportunities in gaming.”