Igaming solutions provider Aspire Global has struck a deal to acquire sportsbook technology operator BtoBet for €20 million. This deal has enabled the supplier to extend its reach towards the sports betting vertical.
The deal includes €15 million in cash at the closing of the deal, and then an additional €5 million twelve months after the deal concludes.
Aspire will also pay an additional consideration, based on BtoBet’s performance over the next two years. This consideration will be equivalent to seven times BtoBet’s earnings before interest and tax at this point, without the €20 million that was already paid. The deal is expected to close by the fourth quarter of 2020.
According to Tsachi Maimon, Aspire chief executive, the acquisition means his business will be participating in all major areas of online gambling via BtoBet’s Neuron 3 sports betting platform.
“This is a perfect match,” Maimon said. “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.”
“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,” he added.