Betsson takes majority stake in KickerTech to upgrade B2B sportsbook capacity
Betsson AB continues to bolster its B2B sportsbook resources by acquiring a majority 80% stake in KickerTech Malta for a valuation of €14m cash.
The investment accompanied Betsson’s Q3 trading update, in which the Stockholm-listed online gambling group revealed that its proprietary sportsbook portfolio had surpassed period wagers of +€1bn.
An agreement has been reached with TG Holdings to acquire KickerTech, to benefit the expansion of Betsson B2B sportsbook operations and trading resources.
Vilnius-based KickerTech employs a team of 50 engineering professionals building advanced odds models, trading modules and advanced sportsbook features.
The transaction will be paid in three instalments, with €6m in cash upfront payment, followed by two separate €4m cash payments spread over a period of 6-to-12 months. The all-cash transaction will be financed with Betsson’s existing funds.
In the past 12 months, ending on 30 September 2022, the acquired business generated revenue of approximately €2.6m and EBIT of approximately €1.3m
Betsson Group CEO Pontus Lindwall commented: “We continue to grow our sportsbook business around the world and this deal will both strengthen our position as one of the leading B2C sportsbook operators in the market and complement our highly competitive B2B sportsbook proposition.”
“We are acquiring a proven business with a track record of growth in client base, sportsbook turnover and revenue in the past years. The acquisition will contribute sportsbook functionality, tech development capabilities and new B2B clients. I am very pleased to welcome the new team and clients to the Betsson Group”.
Source: SBC News
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