Stockholm-listed Betsson has entered into an agreement to acquire Belgian sports betting and gaming operator betFIRST for a total consideration of €120 million.
Betsson will pay €117 million to acquire all the shares in betFIRST on a cash and debt-free basis, with a further €3 million to be paid as earnout, subject to delivery on certain agreed financial targets.
The initial consideration for the acquisition is equivalent to a multiple of 10.0x betFIRST’s estimated EBITDA for the [...]
