Leading iGaming and sportsbook platform provider BtoBet will join forces with Aspire Global, after agreeing a deal comprising a cash consideration of €20m, €15 million of which is to be paid at closing and €5 million payable 12 months after closing. An additional performance-based consideration is payable two years from the close date and is seven times BtoBet’s EBIT in the second year from closing, less the €20 million purchase price.
Acquisition of the sportsbook aligns with the Stockholm-listed iGaming solutions provider’s growth strategy and is expected to close during Q4 2020 and have a “material positive effect” on its EBITDA as of 2021. According to Aspire, the acquisition of business-to-business supplier of iGaming solutions and games, Pariplay, last summer along with the current purchase puts the company “among the world’s leading iGaming suppliers.”
New growth market access:
Chief Executive Officer for Aspire Global, Tsachi Maimon, commented on the significance of the acquisition in a company press release, stating…
“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.
“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,” said Maimon.
Gibraltar-headquartered BtoBet boasts 32 operators on its sports betting platform across Europe, Latin America, and Africa and is a leading provider in the latter two. Aspire, which has a significant presence in Europe and in November 2019 entered the regulated US market via Pariplay to supply content to 888casino in New Jersey, now takes a prime position in the two burgeoning markets.
Also commenting on the acquisition, BtoBet founder and shareholder, Alessandro Fried, 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.”
Aspire Global recently hired former Chief Operating Officer for William Hill International, Antoine Bonello, as Chief Operating Officer and Managing Director for the company’s Malta business.
The company [Aspire Global] has offices in Malta, Israel, Bulgaria, Kiev, India, and Gibraltar and operates in various regulated markets including the UK, Sweden, Romania, Portugal, Malta, Ireland, Gibraltar, Denmark, and the US.