Acquiring Company
IG Group
Acquired Company
Underdog
United Kingdom
BrooklynFinancial ServicesFintechSportsDescription
IG Group is acquiring Underdog for up to $1.3 billion, with $1.1 billion paid upfront. The acquisition aims to enhance IG's exposure in the fast-growing prediction market industry. Underdog is expected to operate as a standalone business while contributing to IG's revenue growth and market expansion. This deal highlights IG's strategy of diversifying into new areas of financial trading.
Related People
M&A Insights
Based on deal dataFrequently asked
Who acquired Underdog?
Underdog was acquired by IG Group, based in United Kingdom. The deal was reported on July 30, 2026. IG Group is a leading UK based online broker providing access to financial markets through its award-winning dealing platform and mobile apps. IG Group is privately held and operates in Financial Services.
When did IG Group acquire Underdog?
IG Group's acquisition of Underdog was reported on July 30, 2026. IG Group is acquiring Underdog for up to $1.3 billion, with $1.1 billion paid upfront. The acquisition aims to enhance IG's exposure in the fast-growing prediction market industry. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Underdog do?
Underdog is the fastest-growing private sports company in the U.S., founded in 2020. The company aims to make sports more engaging and fun for fans. It offers prediction markets, fantasy sports games, and a media network featuring former athletes and analysts. It is privately held, operating in Sports, and is based in Brooklyn.