Betsson Perch Investments has purchased 35 percent of Strive Platform’s shares for $6.5 million, with the option to raise its shareholding by 5 percent for $1 million.
Following up on yesterday’s announcement of a 50 percent acquisition of JDP Tech, Betsson‘s subsidiary will offer the company a $2.5 million convertible shareholder loan facility as part of the Strive Platform agreement.
Broadening US offering
Pontus Lindwall, CEO of Betsson AB said: “This investment is another important milestone in our US entry. The investment will support our B2C launch with the Betsafe brand in Colorado as well as broaden Betsson’s offering to the US market.
“The US market has a limited number of PAMs and sportsbooks that are truly set up for the multi-state regulatory environment and scale. This investment brings together two high quality independent igaming technologies for the US market.”
Betsson announced an agreement with TG Lab UAB (TG Lab), a leading international igaming technology and development business, in its Q4 2020 study. Betsson will be able to use the company’s latest, purpose-built, and modern US igaming platform as part of the agreement to facilitate Betsson’s entry into the US market.
Since then, TG Lab has founded Strive, a North American-focused entity that includes this new technology, intellectual property rights, and market-leading experience, in which Betsson has invested.
Betsson’s sportsbook would be the first to use the Strive PAM, making it an attractive option for players in the United States.