Stockholm, Sweden-based Kindred Group, which operates Unibet, has acquired the remaining two-thirds of Relax Gaming, giving it total control with a purchase price of €320 million (£275 million/$379 million) in cash.
The purchase is being financed through the gaming group’s existing cash and credit. Kindred hopes to leverage the acquisition into a dominant B2B (business to business) iGaming supplier.
Kindred Group CEO Henrik Tjärnström commented, “Through this acquisition we add a rapidly growing and profitable B2B business with a world-class product portfolio, giving us greater control over our casino, poker and bingo offering, putting Kindred in a significantly better position to achieve our long-term strategy to increase our focus on product differentiation and customer experience.”
Relax Gaming will continue to operate as an independent subsidiary within the group, with its own board of directors and management team, which will retain 7 percent ownership, with Kindred having 93 percent.
Relax co-founder and Chairman Patrik Österåke commented, “Kindred’s strengthened presence will allow Relax Gaming to further invest in and accelerate the expansion of our B2B offering across the globe,” adding, “Our continued independence is a key element of the transaction, and I am happy to remain on the board of Relax Gaming.”
Relax Gaming, founded in 2010 is a developer of online casino games and operates in Malta, Estonia, Sweden and Serbia.
