Stockholm-listed iGaming solutions provider Aspire Global is expanding into sports betting through the acquisition of sportsbook provider BtoBet.
Aspire Global has agreed a deal to acquire all shares in BtoBet for a cash consideration of €20m and a performance related earnout of seven times Btobet’s EBIT in the second year from closing, less the cash consideration.
Btobet has 32 operators on its sports betting platform across Europe, Latin America and Africa, generating revenue of €3.1m in the first half of this year with EBITDA of €1.2m.
The transaction is expected to close before the end of the year and follows last year’s acquisition of games studio and aggregator Pariplay. The company said that the addition of BtoBet’s proprietary sportsbook platform positions it among the world’s leading iGaming suppliers.
“Aspire Global now enters the sports betting arena with storm strength,” said chief executive Tsachi Maimon. “With the acquisition of BtoBet we have become a true global B2B company which owns and provides an iGaming platform, sports betting, casino games and games aggregator as well as managed services for all continents and markets. Aspire Global can now compete for any deal, big or small, that exists out there.”
BtoBet founder Alessandro Fried said of the deal: “I am truly enthusiastic by the opportunities we see by becoming part of Aspire Global, the powerhouse for iGaming operators. With our joined forces we will take this new global iGaming offering in every corner of the earth. We have been in the industry for a long period of time and finally we met the perfect partner that matches our vision and with which we can build a stronger presence globally.”
Shares in Aspire Global plc. (STO:ASPIRE) were trading 5.95 per cent higher at SEK37.40 per share in Stockholm Thursday afternoon, setting a new 52-week high of SEK37.70 per share earlier in the day.