iGaming solutions provider EveryMatrix has confirmed the sale of its B2C brand Jetbull to AMGO iGaming for €2m.

AMGO will take over full ownership of Jetbull from 1 July, adding to its portfolio of brands which includes Fantasino, Happy Bingo, Mywin24, Paradisewin, Grandwild and VIPstakes.

The company will pay EveryMatrix a total of €2m to acquire the brand, comprising €1m in cash and €1m in newly issued AMGO iGaming shares at SEK1.0 per share, which corresponds to 10,750,000 shares.

Operating on the EveryMatrix white label platform, Jetbull currently has more than 600,000 registered customers and will continue to operate under EveryMatrix’s Maltese, UK and Danish licenses.

“Some B2B companies have their own B2C brands competing with their B2B clients,” said EveryMatrix founder and group CEO Ebbe Groes. “This has always been against our strategy, and with this transaction, we now completely shut down own brands and we can focus exclusively on our role as a software service supplier for casino, sports, payments, and platform.

“To sell our own brand Jetbull to AMGO is an important step for us to continue developing the market’s most competitive online gaming platform and no longer focus on being an operator. AMGO has the right setup for operating multi-brands in different jurisdictions, and we are sure that we will see a huge increase in Jetbull’s reputation as a strong brand in regulated markets.”

AMGO board member and director Mads Jørgensen said: “We have enjoyed an excellent working relationship with EveryMatrix, and this agreement will take our partnership to the next level. We are very satisfied with this agreement and have set the strategy and performance targets to generate shareholder value.”

AMGO CEO Nicolas Fleiderman, who also served as commercial director for EveryMatrix, commented: “We have worked on this agreement for a long time and know exactly what synergies we can achieve to accelerate the growth and become more efficient. We have built up a new organisation that will focus on Jetbull and will continue to recruit talented professionals that can improve the performance.”

Jetbull CEO Viorel Stan added: “There is great chemistry between AMGO and the Jetbull organisation and we will do our best to secure a successful transition. This transition will ease Jetbull’s goal of becoming a top player in all regulated markets targeted and continue the consistent YoY [year-on-year] growth. EveryMatrix will continue as the main technology provider, and we will make sure that Jetbull is supported with the newest innovations to keep the brand at the forefront of the industry.”