Betsson has through a subsidiary acquired 80 per cent of the shares in KickerTech Malta from TG Holdings.
KickerTech owns a B2B sportsbook operation. The acquisition will support Betsson’s B2B growth strategy by expanding its client base and providing additional scalable technology as well as strengthening the existing sportsbook with advanced trading and modeling tools and added sportsbook features for players.
KickerTech has a team of 50 professionals building advanced odds models, trading technology and sportsbook features. The team is based in Vilnius, Lithuania.
In the last 12 months, ending September 30, the acquired business generated revenue of approximately €2.6m and EBIT of approximately €1.3m.
Signing and closing has taken place as of today and the total consideration for 80 per cent of the shares amounts to €14m on a cash and debt free basis.
The consideration will be paid in three instalments, with €6m in cash immediately, €4m in cash in six months with an additional €4m in 12 months, either in cash or shares issued by Betsson.
The cash portion of the acquisition will be financed with Betsson’s existing funds.
”We continue to grow our sportsbook business around the world and this deal will both strengthen our position as one of the leading B2C sportsbook operators in the market and complement our highly competitive B2B sportsbook proposition," comments Pontus Lindwall, CEO of Betsson.
"We are acquiring a proven business with a track record of growth in client base, sportsbook turnover and revenue in the past years. The acquisition will contribute sportsbook functionality, tech development capabilities and new B2B clients. I am very pleased to welcome the new team and clients to the Betsson Group.”
Betsson also reported its Q3 results today. Group revenue was €200.3m (€170m), an increase of 18 per cent, including an organic increase of 35 per cent.
Casino revenue increased by eight per cent. Sportsbook revenue increased by 45 per cent and the sportsbook margin was 8.3 per cent (7.8 per cent). EBITDA was €48.6m (€41m), an increase of 19 per cent. The EBITDA margin was 24.3 per cent (24.1 per cent).
