SW Nordic, online gambling company Betsson’s subsidiary, has signed an agreement to acquire Inkabet’s B2C online gambling business. Inkabet is a sportsbook and casino operator based in the western region of South America.
The acquisition hopes to not only strengthen but also expand Betsson’s presence in the LatAm region, which it says is a “strategically important region for the company”.
The acquisition will see SW Nordic absorb the business activities, operations and all related assets used for operating the Inkabet brand has an initial consideration of $25 million.
Betsson will also pay up to $4 million depending on Inkabet’s performance in reaching the targeted revenue and EBIT Targets during the six months after the closing, along with a deferred payment of $5 million (of which $3 milion is payable on December 21, 2022, and $2 million is payable on December 31, 2023, if no claims have arisen).
The full purchase is equals to 3.8 times the EBIT of the last 12 months ending June 2021. The acquisition is believed to be financed through Betsson’s revolving credit facility.
“Through this transaction, Betsson continues to build market share in the LatAm region, following the previous acquisitions of JDP Tech Ltd, Suaposta and Colbet,” Betsson CEO Pontus Lindwall, said.
“This strengthens our position in a strategically important region wehre we have performed well and have big ambitions for the future,” he added.