Aspire Global acquires sports betting provider BtoBet in €20m deal

Aspire Global will acquire B2B sportsbook technology provider BtoBet in a €20m (£18.2m) all-cash deal.

The purchase price will be paid in installments, with an initial €15m cash payment on completion and a further €5m to be paid after a maximum of 12 months.

The figure is based on seven times BtoBet’s EBIT in the second year from the purchase date, minus the purchase price of €20m.

The acquisition is expected to complete in Q4 2020.

BtoBet is headquartered in Gibraltar and employees almost 100 staff, the majority of which are based in offices in Italy and North Macedonia. BtoBet boasts 32 operators on its platform in Europe, Latin America and Africa, and operates proprietary sportsbook technology via its Neuron platform.

Aspire Global said: “With a proprietary sportsbook, Aspire Global will control the IP in the full value chain and consequently also steer the complete roadmap.

“In addition, the proprietary sportsbook provides Aspire Global with the highest flexibility when it comes to adding new features and securing fast time to market.”

The deal marks Aspire’s second multi-million-pound acquisition in the space of two years following the purchase of Pariplay in June 2019 for €13.1m (£11.7m).

Aspire Global CEO Tsachi Maimon said: “Aspire Global now enters the sports betting arena with storm strength.

“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.