Swedish online gaming supplier Betsson AB has, through a subsidiary, acquired 80 percent of the shares in KickerTech Malta Limited from TG Holdings Limited, for a total consideration of €14 million.
KickerTech owns a business-to-business (B2B) sportsbook operation. The acquisition will support Betsson’s B2B growth strategy by expanding its client base and providing additional scalable technology as well as strengthening the existing sportsbook with advanced trading and modeling tools and added sportsbook features for players.
KickerTech has a team of 50 professionals building advanced odds models, trading technology and sportsbook features. The team is based in Vilnius, Lithuania. In the last 12 months, ending on September 30, the acquired business generated revenue of approximately €2.6 million and EBIT of approximately €1.3 million.
The consideration will be paid in three installments, with €6 million in cash immediately, €4 million in cash in six months with an additional €4 million in 12 months, either in cash or shares issued by Betsson.
The cash portion of the acquisition will be financed with Betsson’s existing funds.
”We continue to grow our sportsbook business around the world,” said Pontus Lindwall, CEO of Betsson AB, “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.”
