Fundz
Funding, M&A, exec moves and hiring — matched to your market, with the people to call.See plans →

IG Group to acquire Underdog for $1.3 billion

PRIVATEJul 30, 2026•10 days ago

Acquiring Company

IG Group Holdings

Acquired Company

Underdog

BrooklynSports

Description

Betting company Underdog has agreed to be acquired by IG Group Holdings for up to $1.3 billion. The deal includes performance-based incentives and debt repayment of approximately $160 million. Underdog will operate independently under IG Group while pursuing growth in prediction markets. The acquisition is pending regulatory review.

Company Information

Company

IG Group Holdings

Related People

Choose your plan to reveal verified contacts

Choose your plan to reveal verified contacts

Predictive Intelligence
Strategic

ML-powered predictions for IG Group Holdings's next move

Learn about Strategic plan

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

Frequently asked

Who acquired Underdog?

Underdog was acquired by IG Group Holdings. The deal was reported on July 30, 2026. IG Group Holdings is privately held.

When did IG Group Holdings acquire Underdog?

IG Group Holdings's acquisition of Underdog was reported on July 30, 2026. Betting company Underdog has agreed to be acquired by IG Group Holdings for up to $1.3 billion. The deal includes performance-based incentives and debt repayment of approximately $160 million. 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.

Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals — including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications — based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 200,000+ companies. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.