Aspire Global has reported a cash agreement of EUR 20 million to purchase all BtoBet sportsbook and technology provider securities, of which EUR 15 million is payable upon closing and another EUR 5 million is due in twelve months.
Lauding the acquisition as a” key part of Aspire Global’s growth strategy,” it reflects the latest phase in the group’s target of covering” the main elements of the B2B igaming value chain “following the €13.1 million Pariplay transaction last year.
BtoBet founder and shareholder Alessandro Fried said of the deal: “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.”
The deal is scheduled to close during the fourth quarter of the year and to have a major positive impact as of 2021 on Aspire Global’s EBITDA. It is not expected that the transaction will have any impact on financial performance in 2020.
In 2019, BtoBet produced EUR 4,4 million in revenue and EUR 1,5 million in EBITDA, and in the first six months of 2020 , the company registered EUR 3,1 million in revenue and EUR 1,2 million in EBITDA.
Aspire Global chief executive Tsachi Maimon explained: “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.”
Adding: “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.”
BtoBet, headquartered in Gibraltar, has 32 operators on its network with approximately 100 employees in Europe, Latin America and Africa.
**Another huge milestone for Aspire Global**
We are excited to announce that Aspire Global has acquired the leading B2B Sportsbook provider, BtoBet.
— Aspire Global (@aspireglobalplc) September 17, 2020