Betsson's ambition is to create shareholder value by outgrowing the online gambling market.
The acquisition strengthens and expands Betsson's presence in Latin America, a strategically important region for the company. Betsson expects the acquisition to increase scale in the business and to unleash synergies, being both revenue and earnings accretive from the fourth quarter 2021 onwards.
According to the information released by the company las August when informing about the operation, the initial consideration of the acquisition is USD 25 million. Additionally, Betsson will pay up to US$ 4 million depending on the performance of Inkabet in reaching the agreed revenue and EBIT targets during the six months following the closing, together with a deferred payment of US$5 million (out of which US$ 3 million is payable on 31 December 2022 and US$ 2 million is payable on 31 December 2023 if no claims have arisen).
The full purchase price is the equivalent of 3.8 times EBIT of the last 12 months ending June 2021.
"Through this transaction, Betsson continues to build market share in the LatAm region, following the previous acquisitions of JDP Tech Ltd, Suaposta and Colbet. This strengthens our position in a strategically important region where we have performed well and have big ambitions for the future," commented Pontus Lindwall, CEO of Betsson AB.
Source: GMB
