Aspire Global acquires sportsbook provider Btobet
17 September 2020
(PRESS RELEASE) -- Aspire Global has signed an agreement to acquire 100% of the shares of BtoBet Ltd, a leading B2B sportsbook and technology provider. The acquisition of the sportsbook constitutes a key part of Aspire Global’s growth strategy since it is a major step in creating an offering that covers the main elements of the B2B iGaming value chain. Together with the acquisition last year of the leading aggregator and games studio Pariplay, the purchase of BtoBet’s sportsbook platform positions Aspire Global among the world’s leading iGaming suppliers.
The purchase price is €20 million in cash of which €15 million at closing and €5 million twelve months after closing. In addition, there is an additional consideration based on BtoBet’s performance two years after closing. This consideration is seven times BtoBet's EBIT in the second year from closing date minus the purchase price of €20 million. In 2019, BtoBet had revenues of €4.4 million and an EBITDA of €1.5 million and in the first six months of 2020 revenues were €3.1 million and EBITDA €1.2 million. The transaction is supposed to be closed during Q4 2020 with material positive effect on Aspire Global’s EBITDA as of 2021. The acquisition is not expected to have any material effect on the financial results in 2020. BtoBet is headquartered in Gibraltar and has almost 100 employees, the majority of which are based in the offices in Italy and North Macedonia.
With the proprietary sportsbook Aspire Global will control the IP in the full value chain and consequently also steer the complete roadmap. In addition, the proprietary sportsbook provides Aspire Global with the highest flexibility when it comes to adding new features and securing fast time to market.
BtoBet has 32 operators on its platform in Europe, Latin America and Africa. The company is a leading provider in Latin America and Africa and with the acquisition Aspire Global, with its broad presence in Europe and recent establishment in the US, takes a prime position also in these two growing markets. BtoBet’s platform, named Neuron 3, provides operators with the core technology for a player-centric environment to facilitate their player interaction in placing their bet in any channels of choice. The result is a betting experience with an accentuated entertainment perspective based on the seamless transition of the core technology which adapts to various scenarios related to the players’ behaviour through any channel, any jurisdictions and markets’ requirements.
Tsachi Maimon, CEO of Aspire Global, said: “Aspire Global now enters the sports betting arena with storm strength. 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.”
Tsachi Maimon continued: “This is a perfect match. We are impressed by the qualities of the Neuron Sports platform and in addition we will get access to new growth markets, new potential big deals and new opportunities.”
Alessandro Fried, founder and shareholder of BtoBet, said: “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.”