Betsson acquires majority of shares in B2B sportsbook business
26 October 2022
(PRESS RELEASE) -- Betsson AB has through a subsidiary acquired 80 percent of the shares in KickerTech Malta Limited from TG Holdings Limited. KickerTech owns a business-to-business (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 Vilniaus, Lithuania. In the last 12 months, ending on 30 September 2022, the acquired business generated revenue of approximately EUR 2.6 million and EBIT of approximately EUR 1.3 million. Signing and closing has taken place as of today and the total consideration for 80 percent of the shares amounts to EUR 14 million on a cash and debt free basis. The consideration will be paid in three instalments, with EUR 6 million in cash immediately, EUR 4 million in cash in six months with an additional EUR 4 million in twelve 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,” said Pontus Lindwall, CEO of Betsson AB. “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.”