Aspire Global, an online gambling solutions provider is set to acquire sportsbook platform provider BtoBet for €20 million. This strategic deal is expected to allow Aspire Global to venture into the B2B sports betting market.
The €20 million asking price for BtoBet will be paid out in two installments: a payment of €15 million upfront to close the deal, and €5 million to be paid one year after the start of their partnership. Aspire Global has also agreed to include a pay consideration clause to BtoBet worth seven times their EBIT in the first two years of being acquired.
The Gibraltar-based BtoBet is an established name in the software development industry for online sportsbooks. A number of sportsbook brands across the globe are using the BtoBet platform. BtoBet raked in €4.4 million in revenue for 2019, and roughly €3.1 million for the first two quarters of 2020.
Aspire Global has stated that they plan on closing the deal by the fourth quarter of 2020.
Aspire Global’s acquisition of BtoBet provides them flexibility to respond to the needs of the rapidly changing gambling markets across the globe. As part of their deal, Aspire Global is slated to have full control of the IP in the full value chain, and will direct the course of the acquired firm.
Aspire Global believes that having an in-house sportsbook platform provider will help them beat other gambling solutions providers in securing fast launch times in nascent markets, where the first to launch often has a distinct advantage over other operators.
BtoBet’s sportsbook platform, called Neuron 3 is the key software platform that is being used by 32 sportsbook operators in Africa, Europe, and Latin America. Neuron 3 gives operators access to proprietary technology that facilitates all customer interactions with their client.
BtoBet Ltd
Aspire Global’s acquisition of BtoBet is the latest in a series of deals undertaken by the group to cement its place as the leading provider of gambling software solutions in the world. In 2019, Aspire Global acquired casino game developer and content aggregation platform Pariplay in a deal worth €13.1 million.
The Pariplay deal allowed Aspire Global to enter the U.S. online gambling market via Pariplay’s New Jersey license. Aspire Global will now take a similar tack with their BtoBet acquisition, as the firm seeks out further growth opportunities in the U.S.
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