Aspire Global Buys BtoBet to Venture into Sports Betting
Provider of iGaming solutions Aspire Global announced that it would acquire sportsbook platform provider BtoBet in a €20 million deal that will enable Aspire to cement itself in the B2B sports betting field.
Headquartered in Gibraltar, BtoBet boasts rich experience in software development and deep understanding of the sports betting industry. The company powers multiple wagering brands that are active across Europe, Latin America, and Africa.
Aspire announced a €20 million purchase price for the sportsbook platform provider, of which €15 million would be paid when the transaction closes and the remaining €5 million would be paid twelve months after the deal is completed.
In addition, Aspire has agreed to pay consideration of seven times BtoBet’s EBIT based on the latter’s performance during the first two years after it joins the Aspire Global family. The sports betting solutions provider reported revenue of €4.4 million in 2019 and of €3.1 million during the first six months of 2020.
Aspire expects to finalize the deal sometime in the fourth quarter of the year. It said that the enlarged group will see material positive effect from the acquisition in 2021 and that it is not likely to have any material effect on its 2020 financial results.
Deal Provides Aspire with the “Highest Flexibility”
Aspire said that with the addition of a proprietary sportsbook to its platform, it will assume control of the IP in the full value chain and will thus “steer the complete roadmap.” The company further noted BtoBet’s purchase will provide it with “the highest flexibility” when it comes to adding new features to its offering and securing fast time to market.
BtoBet’s sportsbook platform, Neuron 3, currently powers the sports betting operations of 32 operators. These service bettors in multiple markets across Europe, Latin America, and Africa. The platform solution provides operators with the core technology they need to deliver a customer-centric environment that facilitates bettors’ interaction when they place bets across any channel.
The acquisition of BtoBet is the latest deal that is set to expand the Aspire group as it looks to establish itself as one of the leading providers of software solutions for the global gambling industry. Last year, Aspire announced the purchase of casino games maker and content aggregation platform provider Pariplay in a €13.1 million cash deal.
That deal paved the way for Aspire’s entry into the US online gaming market as it occurred shortly after Pariplay had obtained a license to deliver its products in New Jersey.
Aspire will now look to leverage BtoBet’s newly acquired sportsbook platform and explore growth opportunities in the regulated US sports betting space.
Commenting on the acquisition of BtoBet, Aspire CEO Tsachi Maimon said that they now enter “the sports betting arena with storm strength” and that with this deal they have now become a truly global B2B company that owns and provides “an iGaming platform, sports betting, casino games, and games aggregator as well as managed services for all continents and markets.”
BtoBet founder Alessandro Fried added that the company has 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 stronger presence globally.”
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