Betsson has augmented its business-to-business sports wagering portfolio by securing a controlling share in KickerTech. The transaction, estimated at €14 million (USD 14 million), grants Betsson an 80% majority ownership in the sports wagering technology firm from TG Holdings Limited.
The integration will occur in phases. An upfront sum of €6 million has been disbursed, with an additional €4 million payable in half a year. The outstanding €4 million will be settled after a year, either in cash or Betsson stock. Betsson will fund the cash component of the purchase using current assets.
Betsson’s Chief Executive Officer, Pontus Lindwall, indicated that the acquisition solidifies their standing as a premier business-to-consumer provider and elevates their business-to-business sportsbook offering as they broaden their global reach.
KickerTech, employing a staff of 50 located in Lithuania, focuses on crafting odds algorithms, trading systems, and other sports betting functionalities. In the fiscal year concluding September 30th, the enterprise generated €2.6 million in income and €1.3 million in earnings before interest and taxes.
Lindwall further noted that KickerTech is an established entity with an expanding clientele, revenue stream, and profitability. The acquisition will introduce valuable sports betting attributes, technological development expertise, and new business-to-business customers.
We were delighted to bring our latest team members and customers into the Betsson Group fold!” This purchase follows closely on the impressive results of our best-ever third quarter, which we recently announced as achieving unprecedented success.
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