Online sports book platform provider BtoBet has agreed to a purchase by Malta-based Aspire Global announcing that it had reached a deal to acquire 100% of the shares in Gibraltar-based BtoBet Ltd. The deal is expected to close in the final quarter of 2020.
The agreement stipulates €20m cash, of which €15m is payable when the arrangement is finalized and the last €5m 12 months after closing. The arrangement also calls for a payment two years after closing equal to 7x BtoBet’s EBIT in the second year after the close minus the €20m purchase price. BtoBet’s Neuron 3 platform has 32 clients currently across Europe, Latin America and Africa.
Aspire Global entered the regulated market in the USA in November of 2019. Aspire is active in many sectors of Europe and is now poised to excel in both growing gambling markets.
Tsachi Maimon, CEO for Aspire Global, commented, “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 online gaming 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.” Maimon, added, “This is a perfect match. 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,”
Alessandro Fried, BtoBet founder also commented, “I am truly enthusiastic by the opportunities we see by becoming part of Aspire Global, the powerhouse for iGaming operators. With our joined forces we will take this new global iGaming offering in every corner of the earth. We have been in the industry for a long period of time and finally we met the perfect partner that matches our vision and with which we can build a stronger presence globally.”
