SW Nordic Limited, a subsidiary of Betsson AB, has signed an agreement to acquire Inkabet’s B2C online gambling business, a rapidly growing sportsbook and casino targeting the western region of South America.
This acquisition is said to be intended to strengthen and expand Betsson’s presence in Latin America, which is identified as a strategically important region for the company.
Under the deal, the Betsson subsidiary will acquire the business activities, operations, and all of the related assets used for operating the brand Inkabet.
The initial cost of the acquisition is said to be $25 million (€21.3 million) and additionally the company will pay up to $4 million (€3.41 million) depending on the performance of its new brand in reaching agreed-upon revenue and earning targets in the six months after the closing of the deal.
There will also be a number of deferred payments, totalling $5 million (€4.3 million).
Inkabet is one of the leading B2C brands serving sportsbook and casino products, targeting the Western region of South America, says Betsson.
Launched in 2012, its revenue was $25.2 million (€21.5 million), and its operating income (EBIT) was $8.8 million (€7.5 million). Revenue growth was 146 per cent when compared to the year previously.
Commenting on the acquisition, Pontus Lindwall, CEO of Betsson AB said: “Through this transaction, Betsson continues to build market share in the LatAm region, following the previous acquisitions of JDP Tech Ltd, Suaposta and Colbet. This strengthens our position in a strategically important region where we have performed well and have big ambitions for the future”.
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