Stockholm-listed gaming operator LeoVegas has completed its £65m acquisition of UK-based Intellectual Property & Software Ltd.

The acquisition closed on Thursday following completion of all customary closing conditions.

The acquired assets, now collectively branded as Rocket X, include UK-facing iGaming brands 21.co.uk, Slotboss, BetUK and UKCasino.

The operator said that the deal would further strengthen LeoVegas' presence in the UK and its position as one of the leading mobile operators.

“Since its start LeoVegas has pursued a global brand strategy that is very successful,” the company said in a statement. “In larger markets the group's two global brands, LeoVegas and Royal Panda, can be complemented with a local, multi-brand strategy.

“The UK is such a large and mature market that it warrants working with several brands that attract various types of customers. Rocket X has a strategy that focuses on digital and data-driven customer acquisition and thereby has one of the market's most effective customer acquisition models.”

Shares in LeoVegas AB (STO:LEO) were trading down 2.57 per cent at SEK89.10 per share in Stockholm Friday morning.

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