Betsson Acquires Inkabet And Strengthens Positions In South America
Sw nordic limited, betsson ab (publ) subsidiary, has signed an agreement on the acquistion of commercial activities used to manage the brand "inkabet". Initial reward for acquisition is $ 25 million. In addition, betsson will pay up to 4 million us dollars depending on the results of inkabet to achieve the agreed revenue and ebit goals for six months afs closing, as well as a delayed payment of $ 5 million (of which $ 3 million are sum to paying. December 31, 2022 and $ 2 million are payable on december 31, 2023, if no complaints arose). Full purchase price is equivalent to 3.8-fold ebit over the past 12 monhs ended in june 2021. Acquisition financing is carried out through the renewable betsson credit line (rcf),
Inkabet – one of the leading b2c brands offering sportsbook and casino products, focused on the western region of south america. Brand was launched in 2012. His revenue over the past 12 monhs as of june 2021 amounted to 25.2 million us dollars, and operating profit (ebit) 8.8 million us dollars. Revenue growth amounted to + 146% compared with the previous 12-month period.
"Through this transaction, betsson continues to increase market share in the latin america region after the previous acquisitions of jdp tech ltd, suaposta and colbet. It strengths our positions in a strategically important region, where we have proven themselves and have big ambitions for the future, "comments pontus lindval, ceo betsson ab.
It expected that the compltion of the transaction will occur 30 days from the date of signing. Certain restructuring activities are also a closing condition.
Source: betsson group official website