M&A

Kindred Group acquires outstanding shares in Relax Gaming for €295m

Stockholm-listed operator expects annual cost synergies of €8m after purchasing remaining 66.6% stake in long-term B2B partner

Kindred Group has reached an agreement to acquire the remaining 66.6% of outstanding shares in B2B igaming supplier Relax Gaming in a €295m (£253.4m) deal. The Stockholm-listed operator will pay an initial €80m on completion, with maximum earn-out payments amounting to €113m and payable over the next two years, subject to certain earnings thresholds being…

Henrik Tjarnstrom | Kindred Group | M&A | Online casino | Online Gaming | Relax Gaming

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