M&A News

Stockholm-listed operator Betsson has acquired licensed Lithuanian online gaming operator TonyBet for a maximum consideration of €6m.

Betsson said the deal would strengthen its foothold in the Baltic region with licenses in Estonia, Latvia and Lithuania.

The company will acquire Lošimų strateginė grupė UAB, trading as TonyBet, for an initial consideration of €4m in cash, with a further €2m performance bonus to be paid to the sellers in 2017, subject to achieving certain milestones.

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